‘Tackle root cause, not just the aftermath’: Assoc calls banks to boost fraud prevention measures
By DayakDaily Team KUCHING, Nov 3: The Sarawak Consumers Association (PPS) has called on banks to tackle the root cause of unauthorised transactions instead of resolving problems only after complaints have been lodged, after an individual lost over RM3,000 through such transactions. In a press release, the PPS said the 49-year-old individual did not use online banking facilities yet still fell victim to unauthorised transactions, losing RM3,134.32. This prompted the individual to withdraw the…
The Sarawak Consumers Association urged banks to address the root causes of unauthorised transactions after a 49‑year‑old lost RM3,134.32, which was later fully recovered following the association’s intervention.
PPS called for proactive fraud prevention, not just post‑complaint fixes.
The victim’s card was replaced initially, but the association pushed for a full review and recovery.
The incident highlights consumer expectations of security and the need for banks to prevent unauthorized withdrawals.
Summarised automatically by AI from the original article by DayakDaily. AI can make mistakes, so check the original for details.
KUCHING, Nov 3: The Sarawak Consumers Association (PPS) has called on banks to tackle the root cause of unauthorised transactions instead of resolving problems only after complaints have been lodged, after an individual lost over RM3,000 through such transactions.
In a press release, the PPS said the 49-year-old individual did not use online banking facilities yet still fell victim to unauthorised transactions, losing RM3,134.32.
This prompted the individual to withdraw the remaining balance to prevent further losses and visit the bank to seek clarification and assistance regarding the suspicious transactions.
With the bank’s initial response being to just replace the individual’s bank card, the association stepped in by contacting the bank to seek clarification, review the status of the transactions, and demand a resolution to the financial loss suffered by the complainant.
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