Unauthorised Withdrawals - Financial Fraud Alert
Unauthorised Withdrawal involves the withdrawal or transfer of funds from an individual's banking account without proper authorisation or consent by the individual. Such incidents are normally the result of an individual knowingly, or unknowingly, divulging their personal information such as personal identification numbers (PIN) and password to fraudulent or third parties.
What are the characteristics?
A total of 400 complaints on unauthorised withdrawals were received by Bank Negara Malaysia in 2009 (165 similar complaints in 2008). Based on investigations, all of these cases were due to customers knowingly or unknowingly divulging their personal information such as personal identification numbers (PIN) and passwords to third parties or fraudulent parties.
The transactions involved were genuine, using complainants' account information and followed the required process. CCTV recordings had captured the complainants activating access to Internet banking at ATMs.
Most complainants were not Internet savvy and failed to understand that their own actions had led to the fraudulent withdrawal of funds from their accounts.
How it's done?
How to Protect Yourself?
How to Report?
You can report directly to Bank Negara Malaysia via the following communication channels:
Call: 1-300-88-5465 (1-300-88-LINK)