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Scammers are constantly innovating new ways to exploit unsuspecting individuals. Educate yourself on the different types of scams and how they work. 


Phishing Scams


You receive an SMS or an email promising free Coldplay tickets, simply by clicking on a link? Be careful, because this could just be bait for scammers to sneakily “phish” out your personal information.


A famous trick in the scammer's handbook, phishing is a social engineering attack to trick you into giving out personal information. They send out deceptive emails, WhatsApp messages, or other communication channels that appear to come from legitimate sources.


Why do they do it? To obtain your personal data and potentially access your bank accounts, all while pretending to be someone they're not. 

To avoid falling into their trap, keep an eye out for these signs of phishing scams:


  • Emails or messages that pressure you to verify your account immediately, often using language that may cause panic. These email subjects can vary from “Pending shipment notification” to “Your monthly subscription for ABC is now activated” (even though you did not make any subscriptions), or even lucrative job offers shared on WhatsApp within grasp, with minimal requirements needed from your end.

  • Unexpected communication requesting sensitive information, like passwords or credit card numbers; all to supposedly protect your account.


  • Mismatched URLs, where the email content and the hyperlink appear different. Always check and verify the web address on any hyperlink by hovering your mouse cursor over it before clicking it.


  • Messages that lead to fraudulent websites or prompt malware downloads. You can verify the website’s credentials by searching for the lock icon in the address bar.

  • Email inconsistencies that include spelling mistakes, incorrect logos, or unusual formatting. 

Advertisement Scam

Beware of Advertisement Scams targeting social media users! Victims are lured by enticing ads (such as a new gaming app, dubious TV streaming sites, maid services, and more) leading them to chat via messaging apps to make a purchase.


Here's where it gets tricky – to proceed, victims are then asked to download an APK (Android Package Kit) onto their mobile phones, granting all permission without a second thought.


As the unsuspecting victims input their banking credentials on what appears to be a legitimate payment website, something sinister happens. An error message pops up on the fake payment site, causing confusion.


Little do victims know that in the background, their hard-earned funds are silently being siphoned into a third party's account. It's a sophisticated ruse, leaving victims duped and their finances compromised.


Stay protected when browsing your social media with these tips:


  • Purchase goods from authorised shopping platforms only

  • Avoid downloading untrusted applications (APK) on your device

  • Never share details such as your card number / User ID / PIN / password / TAC with anyone or input them in any website or platform other than your official banking website or apps. 

Call Scams


From fake loan offers to false unpaid debts, scammers also use various narratives to swindle you over the phone. Sometimes, scammers may even pose as an authority figure to amplify their threats.


Here are common call scam tactics to be wary of:


  • Fake Loan Scams: Unsolicited offers of loans that are too good to be true, especially those requiring upfront fees or personal information.

  • Unsolicited Debt Calls: Random calls claiming you have unpaid loans (that you did not sign up for) to induce unnecessary panic.

  • LHDN Scam Calls: Fraudulent calls from a scammer pretending to be from Malaysia's Inland Revenue Board, demanding payment for non-existent debts.


Be mindful of the following red flags:


  • Callers who claim that they are representing a certain entity, but use mobile numbers instead of official ones.

  • The use of an "operator" or automated voice system emphasising unpaid loans or debts.

  • Rushing you into making decisions regarding payments on the spot.

Stay Vigilant, Stay Secure: Your Role in Preventing Financial Scams

Adopting good online hygiene practices and staying vigilant are integral to ensure you remain protected as well as your funds. While these scams may seem daunting, understanding how they work and being cautious can go a long way toward safeguarding your hard-earned money.


At CIMB, we aren’t just dedicated to offering banking solutions but also to ensuring that our customers have the knowledge and resources to safeguard themselves against potential threats.


For a comprehensive resource to help you protect yourself from fraud and scams, visit our CIMB Security & Fraud Awareness page.


For further insights on effectively managing your finances, explore the array of guides, tips, and financial advice we've compiled in our Life Goals section, specifically tailored to help you meet your financial aspirations.



This article is brought to you by CIMB as part of our ongoing efforts to raise the level of financial literacy among Malaysians. Financial knowledge and understanding are key to making well-informed and meaningful financial decisions towards positively improving welfare and well-being of communities. This is one of our many efforts to achieve CIMB’s purpose of advancing customers and society.

#Money Scam Protection #Savings