70% of scam victims did not report their cases to the authorities, says survey

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70% of scam victims did not report their cases to the authorities, says survey
MalaysiaScamsFinancial Damage
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MADRID/NEW YORK (Reuters) - Spain's Santander launched its digital bank in the United States on Monday, which will help it to fund over $30 billion of auto lending assets and broaden its retail business in the country, U.S. CEO Tim Wennes told Reuters.

PETALING JAYA: Scams continue to cause significant financial and emotional harm in Malaysia , with the latest State of Scam Report revealing losses amounting to an alarming US$12.8bil , which is equivalent to 3% of Malaysia 's GDP.

This marks a 5% decrease from the previous year and highlights growing scepticism about the effectiveness of reporting processes. This gap in awareness leaves Malaysians vulnerable to more sophisticated scams that exploit advanced technology, such as deepfake videos and voice imitation, making them harder to detect.

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