SHAH ALAM - Although financial institutions have taken steps to conduct thorough investigations into losses caused by online scams, such measures are not mandatory.
Crime analyst Kamal Affandi Hashim stressed that the responsibility ultimately lies with the account holders themselves.
"It is not the bank’s obligation to ensure account holders are not scammed. Account holders must conduct checks beforehand using the platforms provided by the Commercial Crime Investigation Department (CCID).
"If there are doubts after a transaction, they can contact the 997 hotline. However, most victims act only after the scam has occurred,” he told Sinar Harian on Friday.
Kamal also cautioned account holders against becoming complacent, emphasising that fraud can happen to anyone.
"Don’t assume that just because Bank Negara Malaysia (BNM) makes certain statements, victims can rest easy, believing they’ll get their money back.
"Knowing that the government or BNM is working to recover their funds, some victims become even more negligent and careless,” he said.
Additionally, Kamal noted that scammers’ use of mule accounts as part of their modus operandi has made it increasingly difficult for victims to recover stolen funds.
He stated that this method often leaves victims with no option to reclaim their money.
"If scammers use mule accounts, just forget about it. In the past, there were cases where money could be recovered, particularly in online purchases where funds went directly to the recipient’s account.
"But lately, they use mule accounts, which makes recovering the funds extremely challenging. Essentially, the victim’s money goes to a third party, not directly to the seller or recipient,” he said.