Combating a global rise in cyber fraud

As the number of Malaysians who adopted mobile or digital wallets as payment options increased from 8% in 2019 to 20% in 2022, mobile fraud also increased from 23% to 31% in the same period, according to a report. — Image by fanjianhua on Freepik

The past year has seen the number of digital fraud cases growing on an international level, with an increasing reliance on mobile transactions also marking a rise in the incidence of fraud on mobile channels.

While the number of Malaysians who adopted mobile or digital wallets as payment options increased from 8% in 2019 to 20% in 2022, according to a report from global data analytics provider LexisNexis Risk Solutions, there was also an increase from 23% to 31% in mobile fraud.