In the context of Malaysia, the most common types of cyber attacks are denial of service, intrusion attempts, spam, vulnerability report, fraud, malicious code, and content-related attacks as reported by Cyber Security Malaysia. However, since 2011, cyber attacks such as intrusion attempts, denial of service and spam are decreasing steadily as a result of security measures that have been taken by companies or internet users. Nevertheless, cyber attacks which are steadily increasing are cyber harassment, intrusion and fraud. Approximately 5,328 fraud incidences were reported in 2011 while in 2020, the number of cases rose to 7,593 cases. Out of these cyber attacks in Malaysia, the most proliferating ones have been identified as fraud incidences. Thus, it is highly needed to come up with and propose the best fraud risk management strategy to handle fraud incidences among internet users and internet providers through the utilization of business intelligence tools, and quality enhancement via quality systems in place, quality information, and quality users. With these tools in hand, it is hoped that the proposed model will serve as a framework to mitigate and/or prevent the occurrence of fraud incidences.
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