Wising up to financial scams
Tan Jee Yee | 02 Feb 2018 00:30
Every year, we read news or hear stories about financial and bank-related scams, yet there seems to be no end to people falling for them –
It was Saturday, the 23rd of December, which went on like most Saturdays for 53-year old Chen (not his real name). The factory manager was working on some accounts when he received a call on his cellphone. The number wasn’t one he recognised, but calls from unknown numbers are common in his job.

The lady on the phone told him, in Mandarin, that she was calling from a local bank, and that his credit card recorded a transaction of almost RM5,000 in a jewellery store at klia2. Chen holds a credit card from that bank, and immediately began to panic. He has heard of credit card cloning incidents before.

“Someone has stolen your card details and is abusing it,” she told him. “You need to make a report to Bank Negara.” She gave him a number to call, and without hesitating he dialled the number.

The “Bank Negara” operative was strict, but efficient. He asked Chen for his account details so that he could freeze it, but in order to reimburse the amount that was allegedly charged to Chen’s credit card, he would need to transfer his money to a Bank Negara Malaysia-controlled account, so that an investigation could be made.