PETALING JAYA, Aug 29 (Bernama) — With financial scams causing losses of more than RM8 billion in just the first four months of 2025, the urgent need for financial education in Malaysia has never been clearer. In response to this alarming trend, the International Financial Consultant Certified Institute (IFCCI) held its Education Open Day at its Uptown 1 headquarters in Petaling Jaya, unveiling its new Diploma in Financial Market Analysis (DFMA). The programme is designed to raise financial literacy and build Malaysia’s first line of defence against scams through structured and professional education.
According to Bank Negara Malaysia, while 92 per cent of Malaysians have a savings habit, only 38 per cent understand how interest rates work, and nearly one-third of adults admit they lack confidence in their own financial knowledge. This gap has made the public more vulnerable to fraudulent schemes. The Communications and Multimedia Commission (MCMC) also revealed that between January and April this year alone, financial scams caused losses exceeding RM8 billion, with more than 32,000 illegal online contents removed in the same period.
