Facebook, TikTok, WhatsApp and Telegram are the four social media platforms that are the main choice for fraud crimes, said Communications Minister Fahmi Fadzil. The platforms have witnessed a high amount of fraud reaching millions of ringgit with Facebook alone estimated to reach RM500 million in 2023. However, the latest information has not yet been obtained but the potential is much greater than the existing amount recorded.
The popularity achieved by the four platforms, which is increasingly peaking among users, is the main incentive for criminals to commit fraud. The situation is further complicated when the public is less aware of the modus operandi of online fraud syndicates which often change.
Fahmi, however, stressed that several steps have been taken to address the issue, including licensing social media platforms. In addition to tightening regulations and introducing a new definition of fraud through amendments to the Communications and Multimedia Act which was approved in the National Assembly.