ON April 1,2021, the Federation of Malaysian Consumers Associations (Fomca) and National Consumer Complaints Centre (NCCC) alerted the public about the sudden spike in scam-related complaints and asked them to be cautious and remain alert of such scams.
Perbadanan Insurans Deposit Malaysia (PIDM), as a statutory body that provides protection for financial consumers, is concerned about this issue.
PIDM wishes to inform the public that it only protects deposits kept in banks and with financial institutions that are member institutions of PIDM. This is in accordance with the mandate given to PIDM under the Malaysia Deposit Insurance Corporation Act 2005.
Depositors may check the list of PIDM member institutions at:
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Scammers using more sophisticated tactics 14 Apr 2021 / 10:53 H.
FEDERATION of Malaysian Consumers Associations (Fomca) and the National Consumer Complaints Centre (NCCC) would like to alert Malaysian consumers on the sudden spike of scam-related complaints.
Scammers are becoming more sophisticated with their tactics and are hoping consumers would let their guard down. Consumers are urged not to provide their personal, banking or any details to strangers.
Fomca has been receiving around 450 complaints and enquiries related to scams since January. Based on Fomca’s observation, the scammers take advantage of vulnerable consumers, and surprisingly some of the victims are highly-educated.
It is becoming more difficult to know and differentiate between a scam and a legitimate business.
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