Retired couple loses RM120,000 to credit card fraud; Miri MP calls for standardised authorisation

2 months ago 20

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By Tedong Rantayy

MIRI, Sept 9: A retired couple has fallen victim to credit card fraud, losing over RM120,000 through unauthorised transactions.

The funds, transferred from two credit and two debit cards from different banks, were funneled into a Touch ‘n Go e-wallet via a scam that is currently under police investigation.

Lo Soon Ngian, 68, a retiree, and his wife Kong Chong Ngo, 67, an insurance agent, first discovered the issue on June 28 when Kong tried to use her credit card to pay for road tax. The bank informed her that the card had reached its credit limit.

“When I went to the bank to inquire, I was shocked to find multiple unauthorised transactions. I hadn’t made any of them, nor did I authorise anyone else to,” she said during a press conference held by Miri MP Chiew Choon Man at the Parti Keadilan Rakyat (PKR) Community Centre in Tanjong today.

Kong’s attempts to use her other cards met with similar issues, with both banks denying any wrongdoing. Frustrated and worried, the couple lodged four police reports at the Miri Central Police Station.

Addressing the issue, Chiew said it is clear that the modus operandi was to use the victims’ cards to top up a Touch ‘n Go account belonging to someone else.

He assured the victims that he would follow up with the authorities and expressed concerns about the banking system’s security protocols, noting gaps that allowed the fraud to go unchecked.

“When Kong checked with the bank, they informed her that a Transaction Authorisation Code (TAC) had been sent to her phone to verify the transactions. However, she insists she never received such messages,” he said.

Chiew also highlighted the lack of standardised verification methods among banks, which could facilitate such scams.

“Some banks use TACs via SMS, while others have switched to in-app authorisation. The lack of a consistent protocol makes it easier for scammers to exploit loopholes,” he pointed out.

Chiew noted that in some cases, hackers intercept TACs by compromising the victim’s phone.

“We’ve seen similar cases in West Malaysia where TACs were sent but not received by victims due to phone hacks that allowed scammers to delete the messages,” he added.

Chiew called on Bank Negara Malaysia (BNM) to mandate the use of more secure, in-app authorisation methods for all banks to enhance protection against such scams.

Lo and Kong’s case is under investigation by the police under Section 420 of the Penal Code for cheating. The couple hopes that justice will be served and that their ordeal will highlight the need for stricter banking security measures.

The public is urged to remain vigilant and report any suspicious transactions to their banks immediately. — DayakDaily

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