Chong calls on BNM to be strict on banks to stop fraud

Chong Chieng Jen

KUCHING (Sept 13): Sarawak Democratic Action Party (DAP) chairman Chong Chieng Jen is calling on Bank Negara Malaysia (BNM) to impose more heavy responsibilities on banks to improve their internet banking facilities so that no more individuals would fall victim to banking fraud.

In a statement yesterday, he asserted BNM had so far been playing a passive role in banking fraud cases, merely leaving it to the banks to deal with their victimised customers.

In most cases, he added, the individuals are cowed by the might of these banking institutions to swallow their losses.

“Contrary to such passive stand of the BNM, the Monetary Authority of Singapore (MAS) has, in May this year, ordered OCBC Singapore to increase its capital by S$330 million due to its deficiency in the bank’s handling of bank scam cases.

“Why can’t the BNM be more pro-active and effective in protecting the depositors’ interest,” he further questioned.

He said this following a banking fraud case involving an unauthorised withdrawal of money from the account of an individual up to a total of RM34,000.

Yesterday afternoon, Chong and his special assistant Michael Kong brought a victim to Sg Maong Police Station to help in the investigation of the case, in the hope that the victim can recover her loss.

In this case, he said the victim had accounts with Maybank and another local bank. The unauthorised withdrawals happened on May 18 this year, and she had duly notified the bank and lodged police report the next day.

In July, Chong added, Maybank had helped her to recover the RM10,000 which she lost to the unauthorised withdrawal scam.

However, until this day, the other local bank refused to return the money that she lost to the scam.

“Besides helping in the police investigation, I have also helped the victim to correspond with the bank and Bank Negara Malaysia.

“It is most unacceptable that money in the bank can be stolen with such ease and the banking institutions and the authorities are not doing their best to prevent such scams from continuing to victimise the people.

“When even keeping one’s money with the banks is not safe, where else can the public safely keep their life-time savings?

“A government that cannot ensure the safety of the money of depositors with the banks is definitely a failed government,” he said.

He said he along with Kong will continue to assist the victim to recover her loss.

from Borneo Post Online https://bit.ly/3Dld5OL
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