KUALA LUMPUR: An average of 80 commercial crime cases are reported daily, with a total recorded loss reaching nearly RM1.4 billion this year.

Topping the list is investment fraud with losses amounting to nearly RM0.5 billion aided by the use of deepfake or artificial intelligence (AI) technology.

Federal Commercial Crime Investigation Department (CCID) director Datuk Seri Ramli Mohamed Yoosuf said that this figure is based on the total of 16,244 commercial crime cases investigated as of the 29th week of this year, up to July 21.

In comparison, this is a drop of seven per cent from the same period last year, which recorded a total of 17,322 cases. However, the value of losses shows a different trend, with an increase of 37 per cent compared to last year, which recorded losses amounting to RM1,017,261,052.86.

"In terms of the number of charges, 48 per cent, or 7,672 investigation papers, have been successfully charged so far in 2024. This percentage is higher compared to the same period in 2023, which recorded a total of 46 per cent, equivalent to 8,020 of all investigation papers opened during that period," Ramli said at the CCID's weekly press conference today.

"Alhamdulillah, the statistical indicators reflect increased public awareness. In efforts to curb commercial crime cases, the police call for the involvement of all levels of society to remain vigilant and participate in disseminating messages about commercial crime prevention. Let us all strive to create a safe environment, free from the threat of commercial crime."

An increase in the use of deepfake technology by scammers to generate fake personas in videos that mimic the voice and likeness of real people is concerning, the CCID notes.

Ramli said that despite various efforts, the promotion of illegal investment advertisements continues to spread.

The advertisements are becoming more enhanced and sophisticated through the use of fabricated images and the voices of prominent individuals to promote the investment packages.

"In light of this development, we fully support the government's initiative, led by the Ministry of Digital Affairs, to establish the National Artificial Intelligence Governance and Ethics Guidelines, which will address various issues of AI technology misuse.

"According to a statement by the Director General of the National Digital Department on July 17, 2024, these guidelines are expected to be completed before the end of 2024. In my opinion, this is the right time to establish such guidelines, given that today's technological advancements need to be balanced with clear control and management procedures so that technological misuse can be appropriately addressed," Ramli added.

https://www.nst.com.my/news/crime-courts/2024/07/1080490/80-crimes-reported-daily-rm14-billion-lost-scams-driven-deepfakes