Ipoh Couple Lost RM23,080 in Unauthorized Bank Transactions

In a shocking turn of events, an aquarium shop owner from Ipoh, Ling Yoke Suan, and her husband, Yong Kui Hin, discovered that RM23,080 from their fixed deposit (FD) accounts had vanished in a series of unauthorized transactions. The alarming activity unfolded in the early hours of September 9, where approximately 17 transactions funneled their savings into six different bank accounts.

Ling, aged 36, recounted the distressing incident during a press conference, stating, “Around 4:45 am, I lost RM18,480, and my husband lost RM4,600. We were only made aware of this when the bank called at 8:42 am, notifying us that our accounts were suspended due to suspicious activities.” This shocking revelation was brought to light with the assistance of Yuen Chan How, chief of the Perak MCA Public Services and Complaints Bureau.

The couple had intended their fixed deposits as a means to secure their children’s education. Ling expressed confusion over the breach, considering that neither one-time passwords (OTPs) nor suspicious links were involved in the transactions. Despite attempts at ensuring security, the bank seems to have a different perspective. They indicated that a device bind was executed a day before the transactions, with successful verifications of login IDs, passwords, and security questions, thereby absolving themselves of liability.

Following this unsettling incident, Ling and Yong sought help from Bank Negara Malaysia and were directed to the Ombudsman for Financial Services (OFS) to pursue their grievances. Meanwhile, Yong hopes for explanation and justice, saying, “We hope to get a clarification from the bank on these unauthorized transactions. Additionally, we urge the investigation and apprehension of those responsible.”

On the legal front, Yuen Chan How emphasized the severity of the case, which is now under police investigation under Section 420 of the Penal Code for cheating. He urged scrutiny into the accounts that received the funds to ascertain their legitimacy, suspecting they were possibly established for fraudulent purposes. “It’s critical to determine who orchestrated this, as more innocent individuals might fall victim,” Yuen added.

This troubling case shines a spotlight on the vulnerabilities in banking security and highlights the importance of rigorous protective measures to safeguard customers’ finances. The broader community remains on edge as authorities work to unravel the complexities behind this unsettling breach.