The Securities Commission Malaysia and MCMC have signed a MoU to strengthen cooperation on enforcement and step up efforts against scams, online fraud and unlicensed investment schemes.
The agreement will support closer coordination on enforcement, intelligence sharing and scam prevention, particularly in cases involving scams and fraudulent schemes that exploit digital platforms and communication technologies.
It also includes the use of emerging technologies and AI tools to improve detection, investigations and enforcement.
The move comes as authorities step up efforts to tackle digital investment scams and online fraud, in line with the expanded remit of the National Scam Response Centre.
In 2024 and 2025, the SC, with MCMC’s assistance, blocked or suspended 328 websites, 388 Telegram accounts and 60 phone numbers linked to such activities.
SC Chairman Dato’ Mohammad Faiz Azmi said,
“This MoU is a key step in strengthening efforts to protect retail investors and the larger public from scams.
By combining our expertise, the SC and MCMC can respond more effectively to emerging threats, enhance safeguards, and raise public awareness against financial fraud and unlicensed investments.”
Te partnership would support faster intelligence sharing, stronger enforcement and more efficient detection and removal of scam-related pages and content, as closer inter-agency coordination becomes more important amid the growing scale and sophistication of online scams.
The agreement builds on the first collaboration meeting between the two bodies in March 2025.
Since then, both agencies have held further engagements to improve scam mitigation efforts, including faster removal of scam-related pages and content and the exploration of new technological tools.
Other areas of cooperation include intelligence sharing, the development of standard operating procedures, capacity building and better coordination on investigations and enforcement protocols.
Both agencies also plan to roll out joint public education efforts on investment scams, responsible investing, financial security and digital safety.
Featured image: Edited by Fintech News Malaysia, based on image by SC Malaysia via X
