Wednesday, March 9, 2011

Financial And Cyber Crime Most Popular In Malaysia

I have been spending a great deal of time reading about crimes generally. The purpose of this write up is to consider what crimes are most popular or prevalent in Malaysia. If one relied on daily newspaper reports, one might conclude that the most popular crimes are snatch thefts or corruption. However, a closer investigation reveals that financial and cyber crimes are the most common crimes committed in Malaysia. Malaysia's leading news agency, Bernama, quoted Mr Tommy Seah, the Honorary Group Chairperson of the International Cybercrime and Forensics Examiner Group of Companies, as saying that the most widespread of financial crimes in Malaysia were financial statement frauds, procurement frauds and misappropriation of assets.
The cyber age has clearly given criminals a new modus operandi, the internet. Crime trends have changed over the years, from the more traditional crimes (like robbery and burglary) to syndicated crimes within national boundaries, to the present day where the internet has empowered individuals to commit borderless crimes.


Mr Seah added, “Malaysia is a pretty docile country but we are also not well equipped in preventing such crimes.....Skills and knowledge can be transferred and acquired and Malaysia has the ability, but the corporate will to put the house in order is more vital.”
He also said one of the reasons why people commit economic crimes is their desire for a better quality of life; when they cannot achieve that legitimately, they tend to adopt illegal ways of getting what they want.




To combat this problem Malaysia is considering establishing a "cyber court" to deal with the increasing number of crimes related to the Internet. Malaysia's Communications Minister, Shaziman Abu Mansor, said many Internet-linked cases had been submitted to the country's attorney general in the past three years.
"If in future if we cannot cope any more due to too many cases, we may need to have a cyber court," he said, according to Bernama. 


ARTICLE IN SIN CHIEW

Financial and cyber crime most prevalent economic crime in Malaysia

KUALA LUMPUR, April 13 (Bernama) -- Financial and cyber crimes were among the most prevalent economic crimes commited in Malaysia, says Honorary Group Chairperson of International Cybercrime and Forensics Examiner (ICFE) Group of Companies, Tommy Seah.
Economic crimes constitute fraud, corruption and bribery, identity theft, money laundering, cyber crime, accounting and financial fraud.
He said the most widespread of financial crimes in Malaysia were financial statement frauds, procurement frauds and misappropriation of assets.
Explaining further, Seah said although economic crime in Malaysia was not at an alarming stage it was nevertheless increasing.
"Malaysia is a pretty docile country but we are also not well equipped in preventing such crimes," he said, adding that many people, particularly organisations were not aware of the implications of economic crime.
"Skills and knowledge can be transferred and acquired and Malaysia has the ability but the corporate will to put the house in order is more vital," he said in an interview with Bernama today.
When asked why economic crimes occured, he said: " The desire for a better quality of life is a common denominator of a country.
"When economies grow along with a better quality of life desire also arises.
"And, when they cannot attain a better quality of life legitimately, they tend to achieve it by committing crime."
Seah also said if this crime was not addressed, it becomes a distressing issue for individuals.
"It is important to ensure greater enforcement by the authorities and organisations in order for Malaysia to remain attractive to foreign investors," he said, adding that ICFE and CSI World Headquarters would jointly organise a two-day International Cyber and Economic Crime Conference beginning June 15.
Seah said the conference was aimed at educating professionals and to provide Malaysians an opportunity to update skills, especially in digital forensics, in order to be on par with international standards.
"We are expecting professionals from both the public and private sectors who will gather insights about the field from esteemed local and international speakers," Seah added. (By By Santhia Panjanadan/ Bernama)

MySinchew 2010.04.13


ARTICLE IN STAR ONLINE




More than 4,000 cybercrime cases reported in Malaysia within two years
 JOHOR BARU: More than 4,000 cyber complaints, mostly concerning cyber crimes have been lodged with Cybersecurity Malaysia in the past two years.
Its chief executive officer Lieutenant-Colonel Husin Jazri said that the complaints, mostly consisted of hack threats, fraud, denial of services and other computer problems such files lost or corrupted by viruses.
“We have received about 2,000 complaints in 2007.
“Last year, a total of 2,123 cases were lodged with us,” he told pressmen after the presentation of five computers to a school in the Kampung Simpang Arang Orang Asli settlement.
Science, Technology and Innovation secretary-general Datuk Abdul Hanan Alang Endut presented the computers on Saturday.
Lt-Col Husin explained that the agency’s services catered for individuals, as well as companies, who faced computer related problems.
“Our consultation services are free but we will charge any work that needs to be done such as repairs.
“The charges varies on a case by case basis,” he said adding that the agency rarely charged students or those from the lower-income group.
He said that the agency’s 150-strong staff was dedicated to solving computer problems as they aimed to serve the needs of the public.
“We have an emergency response team that caters to the complaints.
“Among our other services are digital forensics, security assurance, security management and best practices,” he said.
He added that the agency’s main objective is to be a one-stop coordination centre for all national cyber security initiatives.
“Among the initiatives are reducing vulnerability of ICT systems and networks and nurture a culture of cyber security among users and critical sectors,” he said.
Lt-Col Husin said the public could contact the agency at 03-89926888, fax at 03-89453205 or email at info [at]cybersecurity.my.
“People can also contact our hotline at CYBER999 to report any problems.
“Our office in Seri Kembangan is open from Monday to Friday,” he said.
He said that the agency was also working closely with enforcement agencies such as the police in solving and curving cybercrimes in the country.









OTHER NEWS ARTICLES YOU CAN CHECK OUT ARE:


http://www.malaysiainfocus.com/politics/malaysia-to-collaborate-in-fight-against-cyber-crime/3296/
http://www.sans.org/reading_room/whitepapers/legal/malaysian-law-computer-crime_670
http://www.thenewnewinternet.com/2010/04/15/cyber-crime-tops-list-of-most-common-crimes-in-malaysia/
http://www.malaysiandigest.com/news/17444-many-white-collar-cyber-crimes-go-unreported-says-salang.html
http://www.cybersecurity.my/en/media_centre/media_faqs/media_faqs/main/detail/1691/index.html?mytabsmenu=4
http://www.spamfighter.com/News-11776-Malaysia-Experiencing-Rise-in-Cyber-Crimes.htm
http://www.malaysianbar.org.my/information_technology_and_cyberlaws_2005_2007/cyber_crimes_the_net_is_not_in_a_legal_vacuum.html


1 comment:

  1. thanks for the info... I used it as my source for my assignment.

    ReplyDelete