Home | Glossary of Scams in Malaysia

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 adverts 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.


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