Man loses RM32,000 in 15 minutes without receiving notification, bank denies compensation

Chong (left) assisting the victim.

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KUCHING, May 28: A man has lost RM32,000 through 14 internet bank transfers from his account to two separate accounts within 15 minutes, without receiving any notification from the bank.

Sarawak Democratic Action Party (DAP) chairman Chong Chieng Jen said when the victim discovered that his money was lost and questioned the bank, he was notified that his personal records and contact number had been changed.

That was why the victim had been kept in the dark while his savings were stolen.


“Mr Chong (the victim) has lodged a police report and approached the bank to recover his loss. But sadly, the bank denied all responsibility and refused to compensate him.

“This morning, I helped him make his claim against the bank. It is most unfair that members of the public keep their money with the bank, and yet when such money was lost, the bank refuses to be accountable,” he said in a statement today.

In all fairness, he opined, the banks should bear the losses in cases of fraud such as Mr Chong and many other reports of late whereby the victims had their savings transferred without their knowledge.

The Padungan assemblyman said while customers have no control over the bank’s systems, it is only fair that the banks be held responsible for their inadequacy or loopholes in their internet security systems.

He also said the banks are in a better financial position to absorb the losses as the stolen money, which could be a big sum to the victims or the victims’ life savings, is “only a drop in the ocean of the banks’ annual revenue”.

“With the rise in banking fraud cases of late, Bank Negara Malaysia must act immediately to direct all banks to absorb such losses.

“It is most unfair that members of the public be made to suffer because of the weakness of the bank’s security system,” he added. — DayakDaily