Scammers use malware, phishing to obtain TAC codes from unsuspecting victims

SHAH ALAM - Malaysian Cyber ​​Consumer Association (MCCA) claims there are scam syndicates capable of reading transaction authorisation codes (TAC) through the short message system (SMS).

Its President Siraj Jalil said the syndicate was believed to use malware to hack into the device and caused the victims to lose money from their bank accounts.

"The syndicates use phishing techniques to send malware through links given to the victims," he said when attended a book launch titled Corruption and Hypocrisy in Malay Muslim Politics: The Urgency of Moral-Ethical Transformation at Karangkraf Media Group headquarters yesterday.

Siraj said he had received complaints from victims who had money lost from their accounts even though the TAC was never given to other individuals.

"The MCCA advises all banks to tighten their system by creating an added layer of security for users.

"The public need to be careful not to share personal information or click on suspicious links to minimise scams," he stated.

Previously, the police had posted a statement on Facebook to advise the public not to share their TAC with any other parties if they did not make any internet banking transactions.

Many were asked to contact their banks if they received a TAC for an unauthorised purchase.