Banks’ stern warning on scams
Published on: Saturday, May 25, 2024
The scammer then employs lengthy “interrogation” tactics, mimicking a real investigation, to establish a sense of legitimacy and gain the victim’s trust.
Kota Kinabalu: Malaysia’s banking industry has issued a stern warning against a growing number of scams involving fraudsters impersonating officers from the National Scam Response Centre (NSRC).
The Association of Banks in Malaysia (ABM) and the Association of Islamic Banking and Financial Institutions in Malaysia (AIBIM) are urging heightened vigilance among bank customers to protect themselves from falling victim to these deceptive tactics.
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In a typical NSRC officer impersonation scam, the fraudster calls unsuspecting victims, alleging that their personal information, such as their National Registration Identity Card (NRIC) number or mobile number, is linked to illegal or fraudulent activities.
The scammer then employs lengthy “interrogation” tactics, mimicking a real investigation, to establish a sense of legitimacy and gain the victim’s trust.
Once the victim’s trust is secured, the fraudster may request the victim to leave their debit or ATM card at a designated location.
This allows the scammer to fraudulently access the victim’s online banking account, make unauthorised transfers and bill payments, or even register for online banking if the victim does not have an existing facility.
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In some cases, the scammer may also make unauthorized cash withdrawals using the victim’s bank card at an ATM.
Banks are urging customers to immediately hang up if they receive calls from individuals claiming to be NSRC officers, as the NSRC only receives calls from the public and does not make outbound calls to individuals.
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Customers are also advised to be wary of fraudsters posing as officers from enforcement agencies and regulatory bodies, such as Bank Negara Malaysia and the police, who use threats and scare tactics to manipulate victims into transferring money or divulging online banking credentials.
The banking industry has emphasised that banks will never request sensitive customer information such as credit / debit card numbers, card verification
value (CVV) numbers, online banking usernames and passwords, or SMS OTP/TAC numbers.
To counter evolving scam threats, banks have implemented several measures, including replacing SMS OTP with a more secure authentication method, tightening fraud detection rules, implementing cooling-off periods for first-time registration of online banking access, allowing only a single mobile device or secure device to be registered, and enabling a 24/7 dedicated complaint channel for customers.
Customers are encouraged to practice cyber hygiene rules, such as never clicking on hyperlinks from unknown numbers, never downloading apps from links on messaging apps, never sharing banking usernames and passwords with anyone, and never entertaining phone calls or messages from unknown mobile phone numbers.
Those who have fallen victim to scams should immediately call the National Scam Response Centre at 997 or banks’ 24/7 customer service hotlines for assistance.
The banking industry urges customers to stay alert at all times, especially when receiving calls from unknown numbers, and to stay informed about the latest scam modus operandi at www.JanganKenaScam.com.
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