Zurich and Shopee unveil fraud cover as Malaysia scams surge

Police recorded 47,854 cases by September 2025 with RM1.92b wiped out.

Zurich General Insurance Malaysia Berhad and ShopeePay launched a new online financial fraud protection product in Malaysia, aiming to make insurance coverage more accessible as scam-related losses continue to rise.

The product, called Zurich Wallet Protection, is available on the ShopeePay and Shopee apps and is priced from $0.35 (RM1.40) per month.

It provides coverage not only for ShopeePay transactions but also across users’ bank accounts, e-wallets and card payments.

The protection covers risks such as unauthorised transfers, card misuse, phishing and impersonation scams, and online shopping fraud.

The launch comes as online fraud cases in Malaysia continue to increase. Data from the Royal Malaysia Police’s Commercial Crime Investigation Department shows that 47,854 scam cases were recorded as of September 2025, resulting in losses of $0.48b (RM1.92b).

This represents an increase of 12,486 cases compared with 2024.

Zurich Wallet Protection is offered under two plans. The Basic Plan costs $0.35 (RM1.40) per month, inclusive of 8% sales and service tax, and includes a free first month.

It provides coverage of up to $750 (RM3,000) per month for unauthorised electronic transfer fraud, with an annual limit of $1,500 (RM6,000).

The VIP Plan costs $1.23 (RM4.90) per month and offers higher limits, including up to $2,500 (RM10,000) per month for unauthorised transfers and $5,000 (RM20,000) annually.

Zurich Wallet Protection is underwritten by Zurich and can be found on the ShopeePay app homepage or via the insurance section on the Shopee app.

($1.00 = RM3.94)