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Buying a home is one of the most significant financial commitments Malaysians make. Yet, for many buyers, the riskiest moment is not loan approval nor valuation, it is the moment a deposit is paid.
According to recent reports, Malaysian lost approximately RM3.1Blnin commercial crime losses in 2024, with property-related fraud among the recurring categories due to misuse of bank accounts and impersonation tactics.
These cases are not limited to online listings or fake advertisements. Increasingly, scams occur within transactions that initially appear legitimate.
Many homebuyers assume that dealing with a registered agent or agency automatically guarantees safety. Unfortunately, that assumption can be costly.
Recent reporting has highlighted cases where buyers transferred deposits into personal or unauthorised accounts, believing they were paying a legitimate representative. In some instances, funds were misdirected or unrecoverable once the transaction broke down.
These incidents underscore a recurring issue: lack of clarity around where money is paid and how it is verified.
Property payments are often made under time pressure, such as a unit may be “reserved”, competition is high, or buyers are told to act quickly. Earnest deposit typically ranges from 2% to 3% of the property’s purchase price and the traditional payment practices still rely heavily on:
While fast, these methods offer little assurance. Buyers are often unable to independently verify:
In contrast, clarity comes from using trusted accounts and structured platforms that provide visibility, verification and proof. In today’s environment, knowing where your money is is just as important as knowing what you are buying.
Before paying any booking fee or earnest deposit, homebuyers (whether first-time buyers, retirees or seasoned investors) should feel empowered to ask clear questions.
At a minimum, buyers should verify:
These checks are not signs of mistrust. They are basic safeguards in a high-value transaction.
To address these risks, some agencies are adopting structured payment platforms designed specifically for property transactions.
One such option is PaymentXchange – a transparent, compliant payment rail for property deposits powered by Bank Negara registered payment gateway. It allows buyers to pay earnest deposits for sales and rental transactions directly into a real estate agency’s Client Account, with real-time status visibility and audit-ready records.
Importantly for buyers, PaymentXchange provides:
For homebuyers, this means one simple step: ask your agent if they can share a PaymentXchange payment link.
If an agent or agency cannot clearly explain how your payment is protected, that uncertainty itself is a signal to pause.
As Malaysia’s property market continues to digitalise, scammers exploit moments of ambiguity – rushed payments, unclear instructions, and informal confirmations.
The strongest defense is not speed, but clarity.
When buyers insist on trusted accounts, verifiable platforms and transparent proof, they protect not only their own funds, but also the integrity of the property market.
Ready to Elevate Trust in Property Valuation?Join the #TransformationTribe and discover how ValuationXchange empowers smarter lending through trusted, tamper-proof, and transparent valuation workflows.
Reach out to our team to explore how we can support your valuation, compliance, or risk management transformation.
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