KUALA LUMPUR, April 20 — The public and businesses especially Small and Medium Enterprises (SMEs) must be cautious against scams involving stimulus package and relief measures announced by Bank Negara Malaysia (BNM) and the financial industry during COVID-19 outbreak.
In a joint statement, the Association of Bank in Malaysia (ABM), Association of Islamic Banking and Financial Institutions Malaysia (AIBIM) and Association of Development Finance Institutions of Malaysia (ADFIM) said the scam syndicates deploy scam tactics with the intention to deceive unsuspecting victims that may result in monetary losses.
It could also result in risk compromising their sensitive banking details and confidential information.
“The scam syndicates’ latest modus operandi includes impersonating bank officers and/or bank representatives who engage with unsuspecting victims via email, phone call, short message service (SMS) and/or social messaging platforms such as WhatsApp or other online messenger services,” it said.
The scammers used the pretext of facilitating financial aid and/or assisting in loan application preparation and securing financing involving the stimulus package and special relief measures such as the Special Relief Facility (SRF) as announced by BNM and the financial institutions.
“We would like to state clearly that financial institutions and/or banks do not appoint or engage third parties or agents for the process of securing loans.
“Hence, individuals and businesses are strongly advised not to pursue loan applications and/or divulge sensitive and confidential information to individuals or companies claiming to be third party appointees or agents from the financial industry,” it said.
Meanwhile, it also advises the public and businesses seeking financing to get in touch with the banks or financial institutions directly to apply for loans to avoid being deceived by these unscrupulous syndicates.
Alternatively, SMEs can also seek legitimate financing options via the imSME.com.my online platform, whereby, the platform will match their financing needs with the financial institution best suited to the requirements.
In addition, the public is advised to be wary of calls or messages purportedly from bank officials, the police, income tax department, the courts or other government agencies demanding your personal banking information.
“Banks and/or financial institutions will never ask you for your personal banking information such as Transaction Authorisation Code (TAC) or Personal Identification Number (PIN) or your online login username and password,” it added.
Public and business are reminded to refer to the financial institutions or banks’ official websites or contact their customer service directly for any information and clarification as well as contact BNMTELELINK at 1-300-5465 for further information.
They also can contact the respective Associations through ABM at ABMConnect at 1300-88-9980 or via eABMConnect at www.abm.org.my for conventional commercial banks; AIBIM at 03-2026 8002/13 or e-mail to firstname.lastname@example.org for Islamic banking services; and ADFIM at 03-2694 9871 or e-mail to email@example.com for development finance institutes.