Prime Minister Datuk Seri Anwar Ibrahim announced in Parliament that Putrajaya is studying ways to strengthen mechanisms holding banks accountable for negligence in scam cases. He highlighted the UK’s approach, which mandates banks to refund fraud victims within five days if negligence is proven, as a potential model for Malaysia.
Banking scams
“We will study tightening (the mechanism) making banks liable if found to be not careful in monitoring and ensuring rules were followed,” Anwar stated.
He revealed that RM178,407 has been returned to victims under Section 413 of the Criminal Procedure Code. Addressing the surge in online financial crimes, which caused RM1.224 billion in losses from January to October, Anwar praised the “Semak Mule” portal, noting its role in saving many from scams. “Many were saved because we use the Semak Mule portal,” he added.
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