Impersonation scams explained: How to spot and avoid them
Learn how impersonation scams work, the warning signs to watch for, and what to do if you’re contacted by someone pretending to be Wise.
How to protect yourself from scams in Malaysia
Scammers in Malaysia use calls, SMS, messaging apps, social media and fake websites to trick people into sharing personal information or sending money.
While scams can look different, many use the same tactics: urgency, secrecy, impersonation or offers that sound too good to be true.
Knowing these warning signs can help you spot something suspicious before you act. Here are some common scams in Malaysia, how to protect yourself, and what to do if you think you've been targeted.
Common scams in Malaysia
Scams can take many forms, but these are some of the most common types to watch out for in Malaysia.
Online shopping and marketplace scams
Scammers may advertise fake products or attractive deals on social media and online marketplaces, then ask you to pay outside the platform or through an unfamiliar link.
Stick to trusted marketplaces and their official payment methods. Be cautious if a seller pressures you to pay another way.
Investment scams
Investment scams may promise unusually high or guaranteed returns and pressure you to invest quickly.
Be cautious of unexpected investment opportunities, especially if someone guarantees returns or asks you to send money to an unfamiliar account.
Job and task scams
Job scams may offer remote work or simple online tasks before asking you to pay an upfront fee or transfer your own money.
Be cautious of job offers that require you to send money before you can earn.
Authority and government impersonation scams
Scammers may pretend to represent the police or government agencies and claim there's an urgent problem involving your identity, account or an investigation.
Never share passwords, PINs or one-time passcodes (OTPs). If you're unsure, contact the organisation through its official channels.
For more information, read Wise's guide to spotting and avoiding impersonation scams.
Bank phishing and smishing scams
Fraudulent emails and SMS messages may appear to come from your bank or another financial provider. They may ask you to click a link, scan a QR code, enter login details or share an OTP.
Don't use unexpected links or QR codes. Open the organisation's official app or website instead.
How to protect yourself from scams
A few simple precautions can help you spot warning signs and reduce your risk.
Verify before you act
Double-check unexpected requests for money or personal information using official websites or phone numbers.
Keep your information private
Never share passwords, PINs or OTPs, including with someone claiming to work for a bank or trusted organisation.
Use official apps and websites
Avoid unexpected links and QR codes. Access financial services through their official apps and websites.
Pause if you're being rushed
Urgency, fear and threats are common scam tactics. Stop and check before sending money or sharing information.
Ask for help
If you're unsure, check with the organisation or someone you trust before taking action.
How Wise helps protect you
Wise uses several security measures to help protect your account and money.
Transaction monitoring
Wise monitors transactions for signs of suspicious activity and may take additional steps when something doesn't look right.
Account verification
Wise uses verification checks to confirm customers are who they say they are, helping protect accounts from unauthorised use.
Transaction notifications
Notifications help you keep track of account activity and spot transactions you don't recognise.
Freeze your Wise card
If your Wise card is lost, stolen or you notice suspicious activity, you can freeze it through the Wise app.
What to do if you suspect a scam
If you think you've been targeted or your account may have been compromised:
- Stop communicating with the suspected scammer
- Don't send more money or share further information
- Freeze your Wise card if your card details may be compromised
- Keep relevant messages, screenshots and transaction details
- Contact Wise Support if your Wise account may be affected
You can also follow Wise's guidance if you may be the victim of fraud or a scam.
Reporting scams in Malaysia
If you've been affected by a scam:
- National Scam Response Centre (NSRC): Call 997 to report an online financial scam
- Royal Malaysia Police (PDRM): Make a police report where appropriate or use Semak Mule to check suspicious bank accounts and phone numbers
- Cyber999: Report cybersecurity incidents through MyCERT's Cyber999 service
Stay alert and check before you act
Scam tactics continue to evolve, but simple habits can help reduce your risk.
Verify unexpected requests, keep your passwords and OTPs private, and use official apps and websites. If you're unsure, stop and check before sending money or sharing information.
Sources:
- National Scam Response Centre (NSRC)
- Royal Malaysia Police – Semak Mule
- MyCERT – Cyber999 reporting channels
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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