Parliament should discuss banks’ responsibility to protect depositors against scams, says Azalina
The issue of whether banks should bear greater responsibility for clients losing money to online scammers is one for Parliament to decide, says Datuk Seri Azalina Othman Said.
The Minister in charge of Law and Institutional Reform said this may be necessary in light of the issue being often raised by the rakyat and the nation's move towards digitisation.
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The Minister in charge of Law and Institutional Reform said this may be necessary in light of the issue being often raised by the rakyat and the nation's move towards digitisation.
Read more at https://shorturl.at/uvdrn
WATCH MORE: https://thestartv.com/c/news
SUBSCRIBE: https://cutt.ly/TheStar
LIKE: https://fb.com/TheStarOnline
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NewsTranscript
00:00In the days of our ancestors, we kept our money under the bed.
00:06But now we keep it in the bank, because it's safer.
00:11Except for the dishonest politicians, who get unlawful money,
00:16they keep it in their condo, in their safe house.
00:20They're dishonest, so they keep it in cash.
00:23But for us, ordinary people, we keep it in the bank. It's safer.
00:27But what we see today,
00:30the money we keep in the bank doesn't look safe anymore.
00:35If we look at the online scammers syndicate,
00:39there are two types of victims.
00:41One is those who are dishonest,
00:44but there's another type, because the system
00:49gives the syndicate a breakthrough,
00:53and has taken the victim's money.
00:56I'll give you an example, Minister.
00:59Recently, I received a complaint.
01:02At 4.30 in the morning,
01:04he received a message from the bank saying
01:07the phone he tied to his bank account
01:10had been switched to another phone.
01:13He used an iPhone, but the bank knew he had switched to a Vivo phone.
01:20But he didn't receive any OTP to switch to a new phone.
01:25Then the bank said,
01:27in 12 hours, if you switch to a new phone,
01:32then 12 hours is the cooling period,
01:34there's no transaction.
01:36However, in just 4 hours,
01:40at 4.30 in the morning, the victim was asleep.
01:43When he woke up, at 8.30,
01:46in less than 12 hours,
01:48his money was transferred to the syndicate's account.
01:53So in this matter,
01:55I would like to ask the ministry,
01:59does the ministry want to take action against the bank
02:07because of their dishonesty?
02:09Will the Law and Order Committee
02:13use strict conditions to control the bank,
02:19the digital platform,
02:21and the DAOKO company
02:23so that they can be held accountable?
02:26Thank you, Minister.
02:29You're welcome.
02:31Mr. Speaker,
02:33the question that the people of Melaka are asking,
02:37there are a lot of questions asked by the people.
02:39Because actually,
02:41those who are called scammers,
02:43Mr. Speaker,
02:44they are not only telecommunications criminals,
02:47but also financial criminals,
02:49love scams,
02:50business criminals,
02:51no loan,
02:52no investment.
02:53But what the people of Melaka are saying
02:56is that the data that we use,
02:59that we trust in the bank,
03:01that data can be taken or stolen by third parties.
03:04That's the issue.
03:06I can't answer,
03:07Mr. Speaker,
03:08the second finance minister is a bank expert.
03:10I'm a law expert.
03:11He's a bank expert.
03:12But I was informed by the state bank
03:14that there's something called 997.
03:17The first thing that needs to be done
03:19is to determine that the money is not floating.
03:22They say we wake up at 4.30,
03:24at 4.35,
03:25we have to hurry up and press 997.
03:27Isn't that right, Mr. Speaker?
03:28I was lied to three times in the morning.
03:30My cat was startled.
03:31I lost my balance of RM3,000,
03:33but I got my money back.
03:35The issue, Mr. Speaker,
03:36is that this is happening.
03:37It's true.
03:38Love scams and so on,
03:39the hundreds of billions that are affected,
03:41those are the third parties that we know or don't know.
03:43This is a data bank.
03:45So maybe, Mr. Speaker,
03:46the parliament can discuss
03:48whether we need a tighter insurance system
03:51for banks
03:52or industries that hold our money.
03:54That's the first.
03:55Secondly,
03:56I see that
03:57with the existence of the digital ministry
03:59that was established by the government
04:01by Mr. Speaker and the 10th Minister,
04:03it shows that the future of our country
04:05is all about digital.
04:07So that's why this ministry is so important
04:09for us as parliamentarians.
04:11And God willing,
04:12in this session,
04:13we will establish a criminal law in Thailand
04:16after the budget
04:17so that we can discuss
04:19and pass various things together.