PETALING JAYA: Singaporean scam victims lost an average of US$2,132 per person last year, the highest in South East Asia, according to a new study by the Global Anti-Scam Alliance (Gasa).
Its State of Scams in South East Asia 2025 report put Malaysia in second place with losses averaging US$1,035 per person, followed by Thailand at US$354.
Across the region, an estimated US$23.6bil was stolen by scammers, or an average of US$660 lost per adult.
“Over one-fifth or 22% of South East Asian adults have had money stolen by scammers in 2024,” Gasa managing director Jorij Abraham said in the report.
Malaysia ranked highest in the region in terms of scam prevalence, with 32% of its adults losing money to scams, followed by the Philippines (31%) and Singapore (21%).
The study also revealed that Malaysians were most often tricked into transferring funds directly, with 55% of victims using bank transfers.
Another 22% paid using e-wallets and 20% via credit cards.
Payment Network Malaysia (PayNet) senior director of risk and compliance Ken Yon Kian Guan said the speed of digital transfers has made the recovery of scam losses harder.
“This is no longer just a national challenge; it is a growing regional problem,” he said in the report.
Meanwhile, 73% of Malaysian adults surveyed said they were targeted by scams in 2024, the second highest rate in South East Asia after Vietnam (77%).
Singapore came third at 66% while the regional average stood at 63%.
Investment scams emerged as the most common type, affecting 63% of the 6,000 respondents.
These were followed by unexpected money offers and impersonation scams, both at 58%.
Despite the widespread losses, many victims did not come forward to report the scams.
About 23% of Malaysians who were scammed chose not to report it, citing uncertainty over where to file a report (35%) and doubts about whether authorities would take action (34%).
Among the 734 Malaysian scam victims surveyed, 27% reported scams to the police, 25% to social media platforms, and 24% to family or friends.
Exposure to scams is also alarmingly high, with 85% of Malaysian adults surveyed saying they encountered at least one scam attempt in the past year.
Phone calls, text messages, and instant messaging apps were identified as the most common channels used.
