Latest news with #VehicleTheftandAccidentReductionCouncil
The Star
3 days ago
- Automotive
- The Star
The fiery fallout of car debt
PETALING JAYA: When you buy a luxury car for RM300,000, it can come with a nine-year loan that locks you into RM3,000 monthly payments. Fast forward just two years, and the car's value plummets to RM180,000, but you still owe the bank the remaining RM230,000. If you sell the car, you're still RM50,000 short. You lose the car, but you will still be in debt. For some, the pressure can be too much to bear, and that's where something unscrupulous unfolds. For a fee ranging between 15% and 20% of the expected insurance payout, desperate drivers can hire a runner to 'handle' the problem. The solution? The car is set on fire, pushed into a ravine, or stolen and chopped up – all made to look like an accident or theft. 'Some syndicates do this on a large scale,' said a source. The source said such groups offer 'solutions' to those stuck in underwater loans. 'They even bribe mechanics, workshops, or tow truck drivers to help fake the damage,' the source added. Owners will then make an insurance claim by declaring that their car was stolen or that it was destroyed in an accident. If the insurer accepts this, the market value of the vehicle will be paid. The payout then goes to the bank, which writes off the rest of the loan or claims it from the borrower, depending on the policy taken. In this situation, the borrower gets away with not paying the remainder of the loan or at least delays it. Vehicle Theft and Accident Reduction Council (VTAREC) coordinator Mas Tina Abdul Hamid said it is possible for individuals or syndicates to attempt a hard fraud scheme involving vehicles. This is done by staging a vehicle theft, setting the vehicle on fire, arson or dismantling it to claim a Total Loss Payout. 'Insurance companies and Takaful operators are well aware of such fraud and have developed a robust detection method and powerful tools to prevent it.' She said most of these fraud tactics no longer work, especially when it comes to burnt vehicles. 'Any sign of dishonesty on the part of the vehicle buyer can lead to claim denial, policy cancellation and criminal charges.' According to figures from the General Insurance Association of Malaysia, some 47,325 private vehicles were declared a total loss out of more than three million accidents reported between 2022 to 2024. Also for the same period, some 4,093 motorcycles and 2,727 commercial vehicles were declared a total loss.
The Sun
06-05-2025
- Automotive
- The Sun
Perodua Myvi, Yamaha 135LC top 2024 accident list
PETALING JAYA: The Perodua Myvi and Yamaha 135LC were the two vehicles most frequently involved in accidents in 2024. According to the New Straits Times, Vehicle Theft and Accident Reduction Council (VTAREC) coordinator Mas Tina Abdul Hamid said insurance industry records showed that accident claims involving the Perodua Myvi totaled 24,628. The Yamaha 135LC topped the list for motorcycles, with nearly 3,000 accident cases, followed by the Yamaha Y15ZR with 2,154. 'Both models — the Yamaha 135LC and Y15ZR — accounted for about 30% of total motorcycle accidents last year,' she said. The Proton Saga ranked third among all vehicles, with 16,159 claims, followed by the Honda City with 13,388. Meanwhile, Toyota's Hilux has been reported as the most stolen four-wheeler last year with 370 units. Following the Hilux, Proton Wira and Toyota Fortuner were named as the second and third most stolen four-wheelers, with 142 units and 123 units, respectively.
The Sun
05-05-2025
- Automotive
- The Sun
Toyota Hilux tops list of most stolen vehicles in 2024
TOYOTA's Hilux has been reported as the most stolen four-wheeler last year with 370 units. According to New Straits Times, the Vehicle Theft and Accident Reduction Council (VTAREC) coordinator Mas Tina Abdul Hamid said the statistics mentioned were based on the insurance companies' reports. Following the Hilux, Proton Wira and Toyota Fortuner were named as the second and third most stolen four-wheelers, with 142 units and 123 units, respectively. The list was followed by Proton Iswara (92), which was tied with the Proton Saga (92), Perodua Kancil (89), Ford Ranger (79), which was tied with the Perodua Myvi (79), Perodua Bezza (61), and the Honda Civic (58). Since the older models of Proton and Perodua were targeted for car theft, Mas Tina believes that they are most likely to be dismantled and used as spare parts to be resold within the country. ALSO READ: Gone in 360 seconds: Lexus RX200 stolen from house in Muar Meanwhile, the other branded vehicles on the list were likely smuggled to foreign countries, she said. Apart from four-wheelers, motorcycles were also added to the list. Last year, the top 10 most stolen motorcycles were the Yamaha 135LC (528), Yamaha Y15ZR (327), Honda Wave (194), Yamaha 125 (109), Honda C100 (105), Yamaha Lagenda (72), Yamaha Ego (59), Honda EX5 (54), Modenas Kriss (48), and Honda RS150R (16). However, she said the vehicle theft incidents in the country have been reduced by 10 per cent with 3,925 cases reported in 2024 compared with 4,370 in 2023. Mas Tina said the criminals' modus operandi have changed, and many of them now hack the key fob, which is a tiny, portable remote control device that runs a remote keyless entry system. Without a physical key, thieves can use this keyless technology to unlock the vehicle, turn on the engine, and drive away. Mas Tina suggested that drivers use conventional safety precautions like a steering lock and store their keys in a Faraday pouch, which blocks radio frequencies. She also advised motorcyclists to use chains to secure their bikes from being stolen.
The Sun
05-05-2025
- Automotive
- The Sun
Toyota Hilux tops list of most stolen vehicles in 2024: VTAREC
TOYOTA's Hilux has been reported as the most stolen four-wheeler last year with 370 units. According to New Straits Times, the Vehicle Theft and Accident Reduction Council (VTAREC) coordinator Mas Tina Abdul Hamid said the statistics mentioned were based on the insurance companies' reports. Following the Hilux, Proton Wira and Toyota Fortuner were named as the second and third most stolen four-wheelers, with 142 units and 123 units, respectively. The list was followed by Proton Iswara (92), which was tied with the Proton Saga (92), Perodua Kancil (89), Ford Ranger (79), which was tied with the Perodua Myvi (79), Perodua Bezza (61), and the Honda Civic (58). Since the older models of Proton and Perodua were targeted for car theft, Mas Tina believes that they are most likely to be dismantled and used as spare parts to be resold within the country. ALSO READ: Gone in 360 seconds: Lexus RX200 stolen from house in Muar Meanwhile, the other branded vehicles on the list were likely smuggled to foreign countries, she said. Apart from four-wheelers, motorcycles were also added to the list. Last year, the top 10 most stolen motorcycles were the Yamaha 135LC (528), Yamaha Y15ZR (327), Honda Wave (194), Yamaha 125 (109), Honda C100 (105), Yamaha Lagenda (72), Yamaha Ego (59), Honda EX5 (54), Modenas Kriss (48), and Honda RS150R (16). However, she said the vehicle theft incidents in the country have been reduced by 10 per cent with 3,925 cases reported in 2024 compared with 4,370 in 2023. Mas Tina said the criminals' modus operandi have changed, and many of them now hack the key fob, which is a tiny, portable remote control device that runs a remote keyless entry system. Without a physical key, thieves can use this keyless technology to unlock the vehicle, turn on the engine, and drive away. Mas Tina suggested that drivers use conventional safety precautions like a steering lock and store their keys in a Faraday pouch, which blocks radio frequencies. She also advised motorcyclists to use chains to secure their bikes from being stolen.
New Straits Times
05-05-2025
- Automotive
- New Straits Times
Toyota Hilux tops the chart as the most stolen four-wheeler in 2024
KUALA LUMPUR: The Toyota Hilux was the most stolen four-wheeler in Malaysia last year, with 370 units reported stolen. Vehicle Theft and Accident Reduction Council (VTAREC) coordinator Mas Tina Abdul Hamid said this was based on statistics from insurance companies. The second and third most stolen four-wheelers were the Proton Wira (142) and Toyota Fortuner (123). This was followed by the Proton Iswara (92), which was tied with the Proton Saga (92), Perodua Kancil (89), Ford Ranger (79) tied with the Perodua Myvi (79), Perodua Bezza (61), and Honda Civic (58). "If we look at this chart, we can see that many of the models are Proton and Perodua, and these are older models, which we believe were dismantled and used for spare parts. "Usually, locally manufactured vehicles are dismantled and the parts resold within the country," she said during a briefing at the soft launch of the VTAREC 2025 public awareness campaign on vehicle theft and road accidents. Mas Tina said other branded vehicles in the list were likely smuggled out of the country. Meanwhile, the top 10 most stolen motorcycles last year were the Yamaha 135LC (528), Yamaha Y15ZR (327), Honda Wave (194), Yamaha 125 (109), Honda C100 (105), Yamaha Lagenda (72), Yamaha Ego (59), Honda EX5 (54), Modenas Kriss (48), and Honda RS150R (16). Mas Tina said the vehicle theft trend in Malaysia had decreased by 10 per cent, with 3,925 cases reported last year compared with 4,370 in 2023. She said the thieves' modus operandi had evolved, with many now hacking the key fob — a small handheld remote control device that operates a remote keyless entry system. This keyless system allows thieves to unlock the car, start the engine, and drive away without needing a physical key. Mas Tina advised drivers to keep their keys in a Faraday pouch, which blocks radio waves, and to adopt traditional safety measures such as using a steering lock.
