THE latest news report on telecommunications scams is deeply concerning. It shows that nearly one-third of all scam victims in Malaysia, that is, 8,789 out of 28,698 cases consist of young adults aged between 21 and 30.
Losses nationwide reached an alarming RM715mil within just 11 months. These highlight that scams are not isolated incidents but a growing social and economic threat. While scam cases cut across all age groups, the data clearly indicates that young adults are the most vulnerable segment.
This trend reflects a worrying reality: many young people are being targeted through promises of fast money, easy returns, fake investments and online schemes designed to exploit ambition, financial pressure and digital exposure.
It must be stressed clearly and honestly: Unless one is born into a very wealthy family, bequeathed with inheritance or a trust fund, or has genuinely struck the lottery, there are no shortcuts to getting rich fast and easy.
Sustainable success does not come overnight. It is built through sheer hard work, street smartness, reading the market accurately, choosing strategic locations, networking with the right sources and industries, and continuously upgrading one’s skills and knowledge. Any offer that promises guaranteed profits with little effort should immediately raise red flags.
To prevent more young adults from falling prey to scams, the following five measures are crucial:
1. Strengthen financial literacy education
Financial education must go beyond basic budgeting. Young adults need practical training on investments, risk assessment, common scam tactics and how legitimate businesses operate.
2. Promote a strong “verify before trust” culture
Encourage young people to verify offers through official channels, regulators, banks or trusted professionals before committing money or sharing personal information.
3. Public awareness campaigns tailored to youth platforms
Anti-scam messaging must actively reach young adults where they are, that is, on social media, messaging apps and digital platforms, using real case studies and clear warnings.
4. Encourage realistic career and wealth expectations
Schools, universities and employers should emphasise that wealth creation is a long-term process based on skills, experience, networking and strategic thinking and location, not overnight gains.
5. Stronger collaboration between authorities, telcos and platforms
Faster detection, blocking of scam numbers, fake accounts and suspicious transactions is essential to disrupt scams before they spread.
Scams thrive where desperation meets deception. By equipping young adults with knowledge, realism and critical thinking, we can reduce vulnerability and protect an entire and subsequent generations from financial harm.
IVONE LOW YI WEN
National Chairman
Beliawanis MCA
