In this era of globalization, online business is very popular and loved by the people because everything is available at the fingertips. Financial fraud or online scammers are becoming more and more common in Malaysia. Even though many arrests have been made, this kind of fraud case still happens with the losses the victims bear sometimes reaching the amount of their lifetime savings for retirement. Awareness about this issue seems to be still low. Although we have heard and read many stories about it.

Therefore, it is wise to know the mechanisms of online fraud and how to avoid it at all costs. Cybercriminals hide behind the scenes, using deceptions that are so convincing that many become victims. E-commerce scams are becoming more and more common, with merchants and buyers around the world falling victim. Thus, it is important for every individual to ensure that online purchases are from authentic and reliable sources.

Here are some tips that can be put into practice to prevent this scenario from happening.

Not Arbitrarily Providing Personal Information
Many scammers start to impersonate government agents and contact the public and ask for ID card numbers, bank account numbers and TAC numbers. If it is true that they represent a government organization, the following information is indeed in their records and is only for you to review. People should contact the registered government directly instead of agents.

Reviewing Organizational Information Or Merchandise Seller Accounts
There are many websites that can be accessed to identify scammers. Make sure every phone number that contacts you is the same as the one listed on the government’s official website. This is to avoid impersonation activities. It is different for other applications or sales sites.

Buying On A Platform With A Guarantee System
The guarantee system is an approach to protect customers from being cheated, getting poor quality goods, exceeding the expiry date and in the event of damage to the goods. In short, it is a guarantee to the buyer.

The authorities need to be more strict in taking legal action against the perpetrators involved in this crime. The same goes for any individual who conspires to protect the perpetrators of this crime. The punishment imposed should also be stricter and cause fear to others to commit the same crime. The public needs to be more sensitive to the current development related to this financial crime, not easily panic with threats , always get advice from the authorities in relation to large financial transactions before taking action and remember to remind each other of the existence of such online financial crimes.

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