By Karen Bong
KUCHING, Dec 13: Sarawak United Peoples’ Party (SUPP) Public Complaints Bureau (PCB) chief Milton Foo today called on Prime Minister Datuk Seri Anwar Ibrahim to take seriously what he described as the financial scandal of the year involving Bank Simpanan Nasional (BSN), urging Bank Negara Malaysia (BNM), the Ministry of Finance and the police to conduct a thorough and transparent investigation into losses that have now exceeded RM11 million.
Speaking at a press conference alongside Persatuan Kabajikan Bersatu Kuching members at SUPP Headquarters here, Foo said the case had gone beyond an internal bank matter and now posed serious questions about public confidence in Malaysia’s banking and financial system.
“This did not happen online or through scams conducted outside the banking system. It happened physically at bank premises, in broad daylight. That is why this case is extremely serious and demands the direct involvement of the authorities.
“It involves our entire banking and financial system and could even affect or damage the international image of our country’s banking system,” he said.
Foo stressed that the investigation should not be limited to an internal probe by the bank, but must involve BNM, the Finance Ministry and the police to trace where the money went.
“Such a massive amount of money cannot simply disappear. The public deserves answers,” he said.
He also urged members of the public who believed they might have been affected to immediately verify their investments at the bank counter.
If no record exists in the bank’s system, he advised them to lodge a police report, submit it to the bank and complete the relevant dispute forms to initiate recovery procedures.
The controversy first came to light on Nov 28, when a couple sought assistance from Democratic Action Party (DAP) Sarawak chairman Chong Chieng Jen after their lifetime savings of RM400,000 allegedly disappeared. The couple claimed they had withdrawn their investments from a unit trust management company to reinvest in a financial product promoted by a bank employee.
According to the couple, the funds were transferred in cash within the bank branch itself, and they never handled the money personally. They only became alarmed after learning that the bank officer involved had been suspended over issues related to the same product.
On Nov 29, BSN assured that it would take full responsibility for the employee’s actions and return the money upon the conclusion of investigations.
Subsequently, on Dec 1, BSN clarified to Chong that all genuine investments in financial products promoted by the bank are conducted only through debit or fund transfers, and that cash transactions are not permitted for such investments. The bank also set up a special team at its main office along Jalan Satok here to handle fraud-related complaints.
By then, four victims had allegedly been scammed by a BSN employee, collectively losing RM600,000. The fraud was said to have taken place between December 2024, and August to September 2025, with the victims instructed to withdraw cash from their BSN accounts, which the officer allegedly pretended to invest. Each victim was later issued a fake ‘BSN official’ receipt.
On Dec 4, five more victims came forward after learning about the case through media reports. They reported total losses of RM595,000 and said they only discovered the scheme was fraudulent after checking with the bank, which confirmed there were no records of their supposed investments.
Chong later said a total of 11 victims had registered claims involving similar fraud cases linked to the same BSN employee, with estimated losses of RM1.6 million.
The case escalated further on Dec 6 when 73 victims came forward reporting losses exceeding RM11 million, all allegedly linked to the same BSN officer. The officer was subsequently remanded until Dec 8 to assist investigations.
Foo said the scale and nature of the case warranted urgent action at the highest level. “As Prime Minister and Finance Minister, Datuk Seri Anwar Ibrahim has a responsibility to ensure the people’s hard-earned money is protected. We need accountability, transparency and justice for the victims,” he said. — DayakDaily
