Inspector-General of Police Tan Sri Mohd Khalid Ismail announced that Malaysia suffered losses exceeding RM1.22 billion due to cybercrime in the 10 months of last year.
Mohd Khalid stated that the total losses recorded from January to October showed an increase in cybercrime including financial fraud, identity theft, data breaches and online fraud.
CyberSecurity Malaysia reported more than 5,900 cybercrimes in 2023 with 3,705 of them being fraud cases. Data breach reports increased by 1,100% compared to the previous year.
He also stressed that the statistics prove that cybercrime is now a major threat to the country's economy, security and social confidence, not just a side threat.
The police will continue to strengthen their capabilities, especially through the use of artificial intelligence (AI) in the aspects of administration, management and operations.
Efforts to combat cybercrime are now not just the responsibility of the police, but rather require the involvement of the entire government, private sector and society.
