rapped in cycle of scams, victims being retargeted over 2.5 times on average

 Low digital literacy blamed for Malaysia's high victamisation rates

Stay vigilant: Victims not learning from experience is among the factors contributing to them being revictimised.

KUALA LUMPUR: Malaysia has the highest rate of online fraud revictimisation in Asia, with victims being retargeted over 2.5 times on average, according to the Asia Scam Report 2024 issued by the Global Anti-Scam Alliance.

CelcomDigi head of sustainability Philip Ling said the report also revealed that Hong Kong and Thailand ranked second and third respectively.

“There are two concerns, namely victims being repeatedly targeted by scammers and their low ability to differentiate artificial intelligence scams.

“The victims don’t learn from experience. It is concerning when they fall victim again because they lack the ability to differentiate between sources ... when contacted by authorities, they often cannot tell whether the caller is real or fake,” he said, Bernama reported.

He said this to reporters after attending the Anti-Scam Engagement Session, “It’s a Matter of When”, at the Tun Abdul Razak Broadcasting and Information Institute here, which saw the participation of over 100 staff from agencies under the Communications Ministry, including the Information Department, the Malaysian National News Agency (Bernama) and RTM.

Ling said the event on Monday provided participants with an opportunity to share information and advocate against crime in a manner that is clearer and easier for the public to understand.

“We need to know that scam victims do not get an adequate support system from the people around them.

“They feel scared, ashamed and unsure of where to seek help,” he said.

One of the participants, Abdul Wahid Abdul Mutallib from Bernama, said that such programmes should be expanded, particularly to the community, as they provide valuable new information and knowledge.

“This kind of programme is very good because it can raise awareness among the public, especially as we are in the age of AI,” he said.

Echoing similar sentiments, another participant Mohd Salehuddin Mohd Kidin expressed hope that more programmes focused on online fraud awareness would be organised at the grassroots level.

“Through courses like this, participants are given exposure on how to ensure that all information is accurate before making any online transaction,” he said.

Earlier, Communications Minister Fahmi Fadzil said online fraud is one of the government’s main focuses in addressing the rise in cybercrime cases, including online gambling, cyberbullying and sexual crimes against children.

In response to this, the government has decided to implement a regulatory or licensing framework for social media and internet messaging services, effective Jan 1 next year.

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  City dreams dashed by rental scam by agents

    No room to let: Some of the victims of the rental scams claim they paid between RM700 and RM2,000 to property ‘agents’. PETALING JAYA: Man...

City dreams dashed by rental scam by agents

 

No room to let: Some of the victims of the rental scams claim they paid between RM700 and RM2,000 to property ‘agents’.

PETALING JAYA: Many young people aspire to relocate to bustling cities, with securing a cosy residence being their foremost concern.

A 23-year-old man, having moved to Kuala Lumpur for work from Sarawak, received an unfortunate surprise upon discovering that the room he intended to rent at a condominium in the capital city was nonexistent.

Heshlee, as he wished to be known, transferred more than RM1,500 to a purported house property “agent,” unaware that he had fallen victim to a scam.

He took to social media to express his frustration over the matter, while also admitting that he made a mistake by not conducting due diligence before making the transaction.

“I dealt with the individual virtually, and I never met the person because I was in Kuching due to work. I did not view the unit, which I admit was a mistake on my part.

ALSO READ : Man loses over RM900k in online investment con

“I trusted the person because the alleged documentation prepared by the agent looked believable, complete with an ‘official email address’,” he said.

While recounting his story to The Star, Heshlee said he began to have doubts when he was unable to contact the agent on the day he was scheduled to move in earlier this month.

He said he waited at the condominium, near Kerinchi, for about three hours before deciding to find a short-term rental through Airbnb and accepted the fact that he had lost his money.

“By nightfall, I realized I had fallen victim to a scam. I honestly thought the agent was in a road accident or had an emergency, making him uncontactable,” he said.

When sharing his personal anecdote on social media, he learnt that he was not the only victim of the scam, which targeted those looking for a room in the condominium.

He claimed that he was contacted by a few people who told him that they had been scammed using the same method.

Heshlee shared a message from another victim, who reported being scammed as well and suspected that it was the same individual operating under various identities.

After receiving some advice, Heshlee proceeded to file a police report and informed his bank about the transaction he made.

However, he has yet to receive any updates. Heshlee, however, remains hopeful that the scammer will be caught.

“I don’t want anyone else, especially young people and students from distant hometowns, to fall for this scammer’s deception.

“Some, I was told, even cried at the management office due to similar cases. I hope justice will prevail,” he added.

The Star conducted checks on a Facebook group and discovered several others who shared similar experiences.

Some users paid between RM700 and RM2,000 only to be left in the dark by the “agents” after payments were made.

The management of the condominium in question, when contacted, confirmed that it had received enquiries from several people asking about the “agents”.

“We did receive complaints from some of the scam victims. But we urge them to report it to the police immediately,” said a man, who only wanted to speak on condition of anonymity.

The man, who manages the joint-management body of the condominium, said that they have tried to identify the purported “agents” and “landlords” by name but to no avail.

“We are not able to identify who they are. We can only advise the victims to report the incident to the authorities,” said the man.

He said that the management is always ready to cooperate with the police to weed out these scammers.

“This is not good for our image as well, and we look forward to working with the police on this issue,” he added.

He also urged the public to conduct due diligence before making any payments or signing any agreements with any party, particularly in property rental matters.

“Please check thoroughly before proceeding with any payment, and check with the property owner’s management for advice,” he adde

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US export restrictions strengthen China’s resolve for innovation

US  claws at China's chip industry fanning flames on tech confrontation. Cartoon: Carlos Latuff

Despite the challenges posed by the US-led technological blockade and various forms of international pressure, confidence in China's semiconductor industry has markedly strengthened, driven by encouraging developments and substantial policy support.

The CSI Semiconductor Index surged to a gain of 6.84 percent on Monday, touching the highest level since December 2021, while the CSI Integrated Circuits Index's gain stood at one point at 5.44 percent on Monday.

The significant gains on Monday came right after the news over the weekend that the US Department of Commerce had sent a letter to TSMC imposing export restrictions on certain sophisticated chips - of 7-nanometer or more advanced designs - destined for Chinese mainland customers, the South China Morning Post reported. 

Surprisingly, the market's initial reaction far exceeded many analysts' expectations. Rather than exhibiting panic, investors responded with optimism, believing that this external pressure would serve as a catalyst for accelerating self-reliance and fostering independent innovation among Chinese mainland companies in the semiconductor sector. 

This positive market response reflects an affirmation of the progress made by China's semiconductor industry and also underscores the high expectations surrounding its potential for development across various dimensions, including but not limited to technological innovation as well as the optimization and upgrading of the industrial supply chain.

In recent years, the US has continuously stepped up export controls on advanced technology and relevant products to China, presenting significant challenges for the Chinese semiconductor industry. 

However, it is precisely in facing such adversity that Chinese semiconductor companies have demonstrated remarkable resilience and self-development capabilities. In the face of external pressures, the self-sufficiency rate of China's semiconductor industry has been steadily increasing. 

If anything, this trend indicates that China's position in the global semiconductor industry is gradually improving and reflects the acceleration of China's independent innovation and localization processes in the semiconductor field.

As the global semiconductor market is projected to exceed $1 trillion by 2030, the growth potential in the Chinese market is significant and cannot be ignored, offering substantial opportunities for independent innovation in China's semiconductor industry. 

While ramping up research and development (R&D) efforts and promoting domestic production, China's semiconductor industry is also accelerating its procurement of semiconductor equipment. According to the latest data from SEMI, China's spending on chip manufacturing equipment reached a record-breaking $25 billion in the first half of 2024, surpassing that of countries such as the US and South Korea. 

Amid a global economic slowdown, China is the only country where spending on chip manufacturing equipment continued to increase year-on-year in the first half of this year. The figures underscore the determination of the Chinese semiconductor industry to enhance its production capacity and technology.

While Chinese semiconductor companies have made notable strides in the low- to mid-end market, it is essential to acknowledge that significant challenges remain for breakthroughs in semiconductor technology. The heightened US export controls, although strengthening China's resolve to carry out independent innovation in the short term, present a substantial long-term challenge for the Chinese semiconductor industry - that is, achieving advancements in high-end technology.

For example, there remains a significant gap between China's technological capabilities and the world's most advanced lithography equipment. If breakthroughs in core semiconductor technologies, such as domestically produced lithography machines, do not materialize as anticipated, it could negatively affect the capacity expansion and production plans of domestic chip manufacturers.

The journey for Chinese semiconductor companies in the high-end sector remains long and arduous. On the one hand, there is a need to continue increasing R&D investment, focusing on breakthroughs in core technologies and enhancing self-controllable capabilities. This requires not only the efforts of the companies themselves but also support from the government, universities and research institutions. On the other hand, it is also necessary to strengthen international cooperation, participating in the development of the global semiconductor industry chain.

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