11.11 Warning: Only 4% of Versa Users Feel Their Phones Are Safe From Scammers
Only 4% of users on Versa, a Malaysian digital wealth app, say their phones feel very safe from scammers and hackers, according to a survey the company has shared ahead of the 11.11 online sales. Versa is using the findings to push a simple message to shoppers: pause for a few seconds and check where your money is going before you pay.
Key facts
- Versa polled 1,022 of its registered app users in February 2025; only 4% said their phones felt very safe from scammers and hackers.
- 78% said they had come across a scam in the previous two years, either themselves or through family and friends.
- Among those who met a scam, about three in four said the first contact came through their mobile phone, with calls and SMS cited by 80% and messaging apps by 76%.
- Police figures quoted alongside the survey show more than 66,000 online scam cases and RM2.97 billion in losses in 2025, plus over RM555.7 million lost in the first quarter of 2026.
What the survey does and does not show
The numbers come with limits that readers should keep in mind. The survey covered only Versa’s own users, was run inside the app, and is based on what people reported about themselves. It is also more than 18 months old. So it is best read as a snapshot of how worried digitally active savers feel, rather than a measure of all Malaysians.
The police data is the harder evidence. Bukit Aman’s Commercial Crime Investigation Department (CCID), the police unit that handles fraud, has reported that online crime almost doubled in 2025. Malay Mail, citing the same police data, said the first quarter of 2026 saw 16,880 online scams, including 4,858 e-commerce fraud cases. Police have separately warned about fake QR codes, with 5,134 QR-code fraud cases costing victims RM28.67 million in the first half of 2026.
Versa chief executive and co-founder Teoh Wei Xiang said a fake checkout link can empty an account in seconds, and that the best defence during sale season is a short pause to double-check the payee. The company has also released a short video with its brand ambassador, former minister Khairy Jamaluddin, acting out a call with a scammer.
What it means for Malaysians
For shoppers, 11.11 brings a flood of flash deals, countdown timers and “last stock” alerts, which are exactly the pressure tactics scammers copy. Versa’s six checks are practical and free:
- Check the account first: look up unfamiliar bank accounts or phone numbers on the police’s Semak Mule portal before transferring money.
- Stay on the platform: buy through established marketplaces, and treat any seller who asks you to move to WhatsApp or pay by direct bank transfer as a red flag.
- Ignore the clock: countdown timers and low-stock warnings are designed to rush you.
- Keep codes private: never share a one-time password (OTP), TAC code or banking login.
- Verify investments: check the Securities Commission Malaysia (SC) Investment Checker and Investor Alert List before putting money into any platform.
- Act fast if hit: call your bank’s fraud desk, ring the National Scam Response Centre (NSRC) on 997, and make a police report.
For merchants and SMEs selling online, the message is that buyers are nervous. Keeping payments inside a known checkout, using official DuitNow QR codes and warning customers that staff will never ask for an OTP can help build trust during the busiest sales week of the year. For banks and e-wallets, the survey adds to pressure from Bank Negara Malaysia (BNM), the central bank, to keep tightening fraud controls on mobile channels.
What to watch
- Whether police and banks report a jump in e-commerce and QR-code fraud cases after the 11.11 and 12.12 sales.
- New anti-scam steps from banks, e-wallets and BNM as more payments move to phones.
- Whether more fintech firms publish fresh, wider surveys on scam exposure, since Versa’s data dates from early 2025.
Read more: DuitNow explained · Malaysia’s e-wallet war
Sources: Malay Mail (November 2026) · SoyaCincau (November 2026) · The Star (September 2026)
