Malaysians lost over RM1.22 billion to cybercrime in 10 months, says IGP

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Malaysia recorded cybercrime losses exceeding RM1.22 billion between January and October 2024, according to Inspector-General of Police (IGP) Datuk Seri Mohd Khalid Ismail. The staggering figure highlights the growing scale and sophistication of online threats — from financial scams and identity theft to data breaches and digital deception.

 

Cybercrime Is No Longer a Peripheral Threat

Speaking at the Police Special Dialogue III 2025, the IGP revealed that over 5900 cyber incidents were reported in 2023, including 3705 fraud cases. Data breach reports alone surged by 1100% compared to the previous year, underscoring the urgency of strengthening Malaysia’s digital defence frameworks.

Mohd Khalid stressed that cybercrime now poses a direct threat to the nation’s economy, security, and public trust. He called for the rapid transformation of the police force into a digitally enabled, intelligence-led organisation.

 

AI and Collaboration at the Core of Cyber Defence

To combat emerging threats, the Royal Malaysia Police is enhancing its digital forensic capabilities, expanding inter-agency cooperation, and integrating artificial intelligence into operations. The IGP emphasised that cybersecurity is a shared responsibility — requiring unified efforts from government, industry, and civil society.

“We all serve as guardians of digital integrity,” said Mohd Khalid. “This dialogue is not just about discussion but about charting a path forward with innovative solutions”.

 

Dialogue Sparks Action Across Sectors

Hosted by the Commercial Crime Investigation Department (CCID) with support from the Ministry of Home Affairs, Alpine Integrated Solution, and KPDRM, the event gathered 550 participants from enforcement agencies, academia, tech sectors, and civil society.

The programme featured ministerial dialogues, expert panels on law and technology, and workshops on cyber response mechanisms and AI solutions — all aimed at building a resilient and secure digital Malaysia.