August 6, 2013

Malaysia has become in the last few years a high fraud risk nation. Although not every business or personal relationship from Malaysia will be fraudulent, it is better to be skeptical when it comes to certain transactions.  A significant number of reported crime cases involving fake company websites in Malaysia has sent local law enforcement scrambling to try to prevent the problem.

According to the U.S. Embassy in this country, there is an increasing number of Americans that are victims of Malaysia scams. Most of these victims have been tricked into giving financial aid to people who claim to be American citizens in a medical, legal or financial emergency. Even people who have purchased their goods or services in this country carry a higher risk of fraud or financial crime.  With business and personal relationships in Malaysia, it's more important than ever to verify the person, the company and website are real and legitimate businesses.

Since 2012, the number of fraudulent websites and servers that have been used to install malware worldwide has tripled. This malware is intended to acquire your usernames, passwords and banking details in order to access your accounts. More than 50 per cent of the cases filed in 2013 were fake copies of the websites of banks and other credit and financial organizations.  But, in addition to those designed to steal your passwords, there are a growing number of sites that are part of online scam or fraud, posing as a reputable company to scam internet users.  Their goal is to gain your trust, and get you to do business with them.  Once they receive your payment or investment, these internet criminals move on to the next victim.  Prevention is key.
Malaysia private investigators agree that the challenge to identity all of these fake websites engaged in fraud is no easy task.  Expert investigators in Kuala Lumpur can help by conducting a background check or due diligence investigation on the company and website.  

One of the main challenges companies are facing today is the fact that many of their dealings have to do with an online transaction. This does not mean that you can´t do business online, it just means that you would have to be careful.  International investigators recommend for individuals and companies to always verify the legitimacy of the parties involved in order to make informed decisions. A company verification should be done whenever you are starting a new business or business relationship.  Ignoring the risk can be a costly mistake and learning lesson.

S. Birch
© 2013 S. Birch

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