Cops urge banks to tighten internet banking security system | Malaysia

Selangor police chief Datuk Arjunaidi Mohamed in a statement today said studies found that apart from the level of awareness and the victim’s attitude, the rise in cases is also from the ease scammers are able to open individual’s accounts as mule accounts. — Bernama pic
Selangor police chief Datuk Arjunaidi Mohamed in a statement today said studies found that apart from the level of awareness and the victim’s attitude, the rise in cases is also from the ease scammers are able to open individual’s accounts as mule accounts. — Bernama pic

SHAH ALAM, March 1 ― Police are seeking the cooperation of banks to take measures in improving online internet banking security systems offered to the public so that they could not be hacked by cybercriminals following an increasing trend in online fraud and cybercrime cases.

Selangor police chief Datuk Arjunaidi Mohamed in a statement today said studies found that apart from the level of awareness and the victim’s attitude, the rise in cases is also from the ease scammers are able to open individual’s accounts as mule accounts.

“It is easy to register an individual’s name to become a mule organisation with the Companies Commission of Malaysia (SSM) and later open a bank account in the name of the company /business of the mule.

“The mule accounts are later used to transfer hundreds and even millions of ringgit from the accounts of victims. Apart from that, there are cybercriminals who succeeded in hacking the e-mail and internet banking accounts of victims and withdrew money from the accounts of victims without their knowledge,” he said.

Therefore, Arjunaidi said if there are applications to change the ID of users via e-mail or any other suspicious changes in the internet banking transactions, the banks should check with the account or company owner for confirmation.

“Banks need to create a more secure check and balance system for all internet banking transactions via internet or e-banking to prevent mule accounts from being widely used by criminals to transfer proceeds of their criminal activities,” he said.

He also said in the first two months of this year, 405 investigations papers have been opened on cyber fraud and crimes involving RM33.7 million in losses in Selangor alone. ― Bernama

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