LHDN impersonation scams

Recent years have seen scammers boldly impersonating Lembaga Hasil Dalam Negeri Malaysia (LHDN), approaching Malaysians with offers of rebates for overpaid taxes or worse, threats of legal action for overdue tax.

Impersonation scams known as ‘rebate scams’ offers the victim a rebate while for those with overdue tax receives a threat to life, an arrest or other form of threats.

Wagering and sports investment scams

A betting syndicate uses computer prediction software or a betting software for betting and sports investment scams. Victims are convinced by these scammers with the promise or the guarantee profitable investment into these ‘fool proof’ systems and software.

Binary options scams

Binary options investment is where the buyer predicts the value of a share, price, currency, index, or commodity in the near future. Accurate prediction earns the buyer up to 80% return on investment. An inaccurate prediction will result in loss of the entire sum invested. The risk is high in binary options investment due to unpredictable fluctuations which happens in  a noticeably short time, which does not bode well for the investor.

Business email compromise scams

BEC scams targets business clients by informing them of changes to their banking details. Victims are targeted by targeted phishing and hacking of a business communication channels and are convinced to direct payment to the scammer’s account. An example of a BEC scam is the impersonation of the CEO of the company requesting payments for so called legitimate business, altered real estate contracts, and possibly redirecting employee’s salaries to a scammer’s account.

Classified scams

Classified scams both online and paper-based classifieds as well as on auction sites promotes popular products selling for cheap. An up-front payment is normally asked from unwitting responders to the advertisement and the seller would normally claim to be overseas. Victims are scammed with convincing documents and lengthy stories to strengthen their scam.

Cryptocurrency scams

Cryptocurrency is a virtual/digital currency which is a form of electronic money and does not exist as coins or notes. Cryptocurrency can be bought or sold using standard money or traded with other cryptocurrency on an exchange platform.

Dating and romance scams

Impersonating as prospect companions on dating apps or websites, or on social media targeting people who are looking for romantic partners is the modus operandi of dating and romance scam syndicates. Emotional play triggers victims to provide gifts, money, and personal details to the scammers. This scam can drag on for many years, often resulting in emotional and financial destruction.

Fake charities scams

Fake charity scams impersonate genuine charities or even create fake charitable organisations to collect donations. Cases are more rampant after occurrence of natural disasters or major events.

False billing

False billing scams are where false invoices are sent to individuals or businesses requesting for payments for advertisements, domain and hosting renewals, directory listings or even supplies which were not ordered. Target of these scams are normally the unsuspecting administrative personnel with set routine of repeat orders, where the altered invoice may have been overlooked.

Health and medical products scams

Dubious health care and medical products sold by scammers. These ‘products may claim to be the ‘cure’ to various ailments and sickness.

Inheritance scams

Victims are convinced into a false inheritance and tricked into parting with the inheritance or tricked into providing scammers with their bank or credit card details.

Investment scams

Scammers offers the victims a range of false financial opportunities convinced of high returns with low risk. Scammers may offer fake capital or coins, provide services as a broker, or suggest investing in overpriced software and fake trading platforms. Unwitting victims are attracted by smooth talks, professional brochures and websites.

Jobs and employment scams

Victims are tricked into up-front payment to scammers who claims to guarantee high-paying positions or get rich quick schemes.

Mobile number porting

Scammers transfer a registered mobile phone number from one telco provider to a different provider without the knowledge of the owner followed by syncing the scammer’s mobile phone with the ported number to enable receipt of incoming messages. The objective of scammers is to intercept the steps in authenticating messages from banks or from other service providers.

Mobile premium services

Competitions promoted via SMS to trick recipients to subscribe to exorbitant call or text rates enabled when people reply to the unsolicited SMS.

`419’ or ‘Nigerian’ scams

Up-front payment scams or commonly known as ‘Nigerian’ scams offers the victim a share of the large sum of funds if the victim agrees to aid the scammer to transfer the funds out of the country. Also known as ‘419 scams’ with reference to the Nigerian Criminal Code. Similar scams now emanate from any country.

Online shopping scams

Scammers pretend to be authentic sellers online using fake websites or advertisements embedded on a genuine e-commerce site or social media page.

Phishing line scams

Phishing scams trick victims into divulging bank details, username, and passwords as well as credit card details. Phishing scams involves impersonating the organisation, head of departments, telecommunications providers and contact is normally established through emails, SMS, websites or even through a phone call.

Pyramid schemes

Pyramid schemes are ‘get-rich-quick’ schemes which is high risk and illegal. People at the top of the pyramid profit from people who subscribe to the pyramid scheme membership. Pyramid scheme is considered illegal if the only means of profiting is reliant on new people signing up.

Ransomware and malware

Ransomware and malware hack the victim’s computer to gain access to collect personal information or to simply infect the computer’s operating system. The system freezes or locks when penetrated by ransomware and malware thus enabling the hacker to demand payment in exchange for restoring the computer’s operating system. Individuals and businesses are often the targets.

Rebate scams

Scammers impersonate a government personnel or from a utility company or a bank or any financial establishment and make contact with the victim claiming that the victim is owed money. The victim is asked for an up-front fee before rendering a larger rebate.

Remote access scams

The scammer infects the victim’s computer and then contact the victim to notify regarding the problem and then makes an offer to the victim to fix the problem. Offers ranges from convincing the victim to purchase the anti-virus software or fabricate a story saying that they work in tandem with the authorities and require to make transactions from the victim’s bank account in order to ‘trace the scammers’.

Spear phishing

Spear phishing is an advanced and more accurate form of phishing scam using various techniques aimed at a specific individual or establishment to get information which will enable movement of funds to the scammer.

Travel prize scams

Holiday scams or travel prize scams trick victims into paying money to claim a ‘discounted holiday’.

Unexpected prize and lottery scams

Unexpected prize and lottery scams tricks people to pay an up-front fee before claiming a prize from a lottery they have never participated before.