By Karen Bong
KUCHING, June 8: Another online banking fraud victim has lost RM45,100 through six internet transfers from his two bank accounts in a day without his authorisation or receiving SMS notifications or one time password (OTP) requests from Public Bank and AmBank.
The 40-year-old man surnamed Phui has sought help from Democratic Action Party (DAP) Sarawak to get the two banks to reimburse the loss of his savings as a result of fraudulent internet transactions due to the apparent breach in the security systems of the banks.
DAP Sarawak chairman Chong Chieng Jen said this is the third such case received in a month whereby the victim had only discovered that the funds in his two separate bank accounts were gone after 10 days on Dec 27, 2021.
“Both accounts were hacked on Dec 17, 2021 and funds were transferred out without his knowledge or SMS notifications or OTP requests.
“For his Public Bank account, there were three successful unauthorised transfers of funds – RM7,410, RM8,000 and RM9,990, totalling RM25,400.
“For his AmBank account, there were also three successful unauthorised transactions totalling RM20,700. He suffered a total loss of RM45,100 because of fraudulent internet banking fraud,” he told an online press conference today together with Phui.
Following that, Phui had lodged reports with the police as well as both banks. The banks required him to fill in some forms but until today, Chong said there has yet to be any response on the outcome of the investigations nor have the banks indicated whether they will reimburse him or otherwise.
Today, the Padungan assemblyman has helped Phui to file for the Financial Ombudsman Scheme in a claim against Public Bank, while for AmBank, a letter will be issued to see if the bank is willing to reimburse the amount.
“Online banking fraud is getting more rampant nowadays but banks are not ready or willing to take up the loss or even be accountable and responsible for the loss.
“After all, we as account holders keep our money in the banks for the financial institutions to make investments, and use our money to lend it out for higher interest rates to make profit.
“Money is in the custody of the banks but yet when the money is lost, the bank is pushing the responsibility to the customers or account holders and not willing to reimburse the loss,” he raised.
Referring to a recent case in Singapore, Chong said the financial authority of the island republic had ordered OCBC Bank to compensate the victims of similar cases which totalled to S$330 million for the loss of their savings due to phishing whereby the banking security system has been compromised.
“Its firewall and security system has been breached and as such, the bank must be responsible for the loss.
“(But) Malaysian banks are not willing to take up the responsibility and Bank Negara Malaysia (BNM) is very slow in taking action,” he said.
With that, Chong who is also Stampin MP said that he will raise this matter in Parliament as well as writing to the Ministry of Finance (MOF) and BNM to urge that a general directive be issued in which banks must pick up responsibility for the losses resulting from online fraud.— DayakDaily
