KUALA LUMPUR: The issue of whether banks should bear greater responsibility for clients losing money to online scammers is one for Parliament to decide, says Datuk Seri Azalina Othman Said.
The Minister in the Prime Minister’s Department (Law and Institutional Reform) said this may be necessary in light of the issue often raised by the public amid the nation’s move towards digitalisation.
“It is the MPs that should discuss if a more robust insurance scheme is needed for banks and financial institutions that hold our money.
“This is also because we now have a Digital Ministry as the nation heads towards digitalisation,” she said in reply to a supplementary question by Kota Melaka MP Khoo Poay Tiong in the Dewan Rakyat yesterday.
She added that the consumer himself should be careful and alert of scams.
Khoo asked if the banks should be made to bear responsibility for data breaches which result in their customers losing money to scammers.
He cited a recent complaint where a man claimed he had received a notification from a bank at 4.30am informing him of a change in the model of mobile phone used for his online transactions.
“The notification said that there would be a 12-hour cooling-off period before any transactions can proceed.
“However, in less than 12 hours, he found that his money had been transferred out of his account at about 8.30am,” said Khoo.
To this, Azalina said that she too almost fell victim to an online scam after receiving a notification at 3am.
“I was shocked that RM3,000 was transferred out of my account. Fortunately, I managed to get my money back,” she said.
Azalina advised the public to activate the “kill switch” linked to their bank accounts.
“If you get a notification at 4.30am, hit the kill switch on your banking app as soon as possible,” she said.
The kill switch is an initiative of Bank Negara which was adopted by banks on March 1 last year.
On the law against online crimes, Azalina said it could be tabled and passed during the current meeting.
She called on MPs to debate the issue when that proposed law against online crimes is tabled.
