Unauthorised transfer: Woman loses almost RM47k including FD in 4 transactions

Chong (left) in discussion with Bong.

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KUCHING, June 29: A woman has recently lost RM46,824 including her fixed deposit in four unauthorised transactions after using an online shopping app.

Sarawak Democratic Action Party (DAP) chairman Chong Chieng Jen, who was requested to help with the case, said the victim, known as Bong, had downloaded an app on June 28.

“Within an hour, there were four unauthorised transfers of fund from her bank account. The four transfers were RM14,800, RM9,038, RM13,102 and RM9,884, for a total sum of RM46,824.

“In just a matter of two hours, she has lost a large part of her life savings. She immediately took action to notify the bank and the shopping app via email and lodged a police report,” he said.

Meanwhile, Chong said he had also issued letters to Bank Negara Malaysia (BNM), the victim’s bank and the shopping app to urge for quick intervention.

In recent weeks, he claimed that such internet banking fraud where victims are left defenseless has been rampant, but the banks are not helping much to recover the victims’ losses.

He thus urged BNM, local banks and e-commerce shopping platforms to act in a concerted effort to address this issue, instead of pushing the responsibilities to another party.

“This is a policy call issue. The banking sector has moved aggressively towards internet banking in the name of cost savings and efficiency. Bank Negara’s policy is also pushing for internet banking.

“As a result, banks’ customers were compelled to adopt to this new culture of internet banking. Yet, their money is not safe with internet banking system and there are insufficient safeguards for their money in banks,” said Chong in a statement today.

He asserted that this such loopholes should not be allowed in the country’s financial system where individuals are left at the mercy of internet banking fraudsters. — DayakDaily