Scams are becoming more common in Malaysia, and many people only realise they have been scammed after losing their savings.
By understanding the common types of scams and knowing how to respond, you can better protect yourself and your finances.
3 common scams in Malaysia
1. Investment scams
Investment scams are among the most common and damaging types of fraud.
Scammers often promise high returns with little or no risk. Victims may end up losing large amounts of money, including personal savings or retirement funds.
⚠️ Reminder: If an investment sounds too good to be true, it probably is.
2. Online shopping scams
In this scam, victims pay for products sold online but never receive the items.
Scammers usually advertise attractive prices through social media, fake websites or messaging apps to lure buyers.
⚠️ Reminder: Always verify the seller before making any payment.
Read also: Don’t Be a Victim of Online Theft
3. Job scams
Job scams often target individuals seeking part-time or remote work.
Victims may be asked to:
- Pay a “registration fee”
- Complete suspicious tasks
- Transfer money as part of the job process
⚠️ Reminder: Legitimate employers do not ask for payments before offering a job.
Do you need to pay a processing fee to withdraw EPF savings?
No. The money in your EPF account belongs to you. You do not need to pay any processing fee to withdraw your EPF savings.
If someone asks you to pay a fee to help withdraw EPF money, it is likely a scam.
Are EPF loan advertisements on social media legitimate?
No. Advertisements claiming to offer EPF loans on social media are not from EPF.
Scammers often misuse names, photos or videos related to EPF to make the advertisement appear legitimate.
Always verify information through official EPF channels before taking any action.
What should you do if you become a scam victim?
If you believe you have been scammed, take action immediately.
Step 1: Contact the National Scam Response Center (NSRC)
Call 997 as soon as possible to report the incident.
Step 2: Contact your bank
Inform your bank immediately to seek advice and possible assistance.
Step 3: Lodge a police report
Visit the nearest police station to make an official report.
Acting quickly can help increase the chances of recovering your funds.
Does EPF have an official WhatsApp account?
Yes. EPF has an official WhatsApp account under the name KWSPMalaysia.
The account is verified and will display a blue verification tick, confirming that it is the official EPF account.
Always check for the verified badge before interacting with any account claiming to represent EPF.