Hui Yin: Most fraudulent online transactions using mule accounts ‘voluntarily’ authorised by victims

Hui Yin: Most fraudulent online transactions using mule accounts ‘voluntarily’ authorised by victims

About 95 of fraudulent online banking transactions involving mule accounts were "voluntarily" authorised by victims, making them harder for banks to detect and prevent, Deputy Finance Minister Lim Hui Yin said.br br Responding to a supplementary question from Datuk Awang Hashim (PN-Pendang) in Dewan Rakyat on Monday (Feb 17), Lim explained that this type of “authorised fraud” complicates efforts to block suspicious transactions linked to mule accounts.br br Lim also highlighted a new policy holding banks accountable for fraud victims, requiring them to compensate clients if they fail to comply with banking regulations.


User: The Star

Views: 554

Uploaded: 2025-02-17

Duration: 11:46

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