KUALA LUMPUR, Feb. 27 -- Malaysian and Singaporean regulators have signed an agreement to fight scams across telecommunications channels that have cost citizens of both countries hundreds of millions of ringgits in losses.

Singapore's Infocomm Media Development Authority (IMDA) said in a statement that it and the Malaysian Communications and Multimedia Commission (MCMC) signed a memorandum of understanding (MOU) on February 25 in Barcelona, Spain, at the Mobile World Congress.

Nikkei Asia reported that Singaporeans were cheated of S$651.8 million last year, or around S$110 per person on average.

In 2020, Malaysians reportedly lost RM287 million in 6,003 cases to phone scams.

Authorities said the agreement aims to strengthen cross-bord...