Federation of Malaysian Consumers Associations (FOMCA) emphasizes shared responsibility amongst banks, telcos, and consumers to prevent financial scams, urging for strict regulations instead of voluntary guidelines.
PETALING JAYA: There has to be shared responsibility between banks, telecommunication companies and consumers when financial scams happen, and the relevant authorities must investigate to identify which party is liable, says the Federation of Malaysian Consumers Associations .
“However, we have scam victims who come to us complaining that banks are not acting fast enough when they complain that they have been scammed. “In Singapore, there is a shared responsibility framework. Our banks and telcos here too should be held responsible,” she added.She questioned how scammers seem to get hold of contact numbers as well as information of account holders, which she said points to the lax attitude of banks and telcos in keeping such data secure.
Financial Scams FOMCA Banks Telcos Consumer Protection
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
119 Immigrants Detained in Joint Operation in AmpangThe Immigration Department of Malaysia has detained 119 illegal immigrants during a joint operation with the Ampang Jaya Municipal Council, Royal Malaysia Police, and National Registration Department at Pandan Mewah Apartment. The operation, which started at 6 pm and ended at 11 pm, involved 438 officers. The detained individuals include 89 from Myanmar, 14 from Bangladesh, 8 from Nepal, and 4 each from Indonesia and India, aged between 18 and 50.
Read more »
Russian, Indonesian navies hold joint counter-terrorism drillsMELBOURNE: Russian and Indonesian ships practiced freeing a vessel captured by terrorists and fought unmanned boats during the first joint naval exerc...
Read more »
Indonesia yet to agree joint development areas with Beijing in South China SeaIndonesia has yet to decide on any joint development areas with China in the South China Sea, its foreign minister said on Monday
Read more »
M'sia ready to host first joint meeting to expand cooperation with Saudi Arabia, says PMSINGAPORE (Reuters) - Bitcoin stood on the verge of $90,000 on Tuesday, riding a wave of euphoria since the election of Donald Trump as U.S. president on expectations his administration will be crypto friendly.
Read more »
119 Illegal Immigrants Arrested in Joint Operation in MalaysiaIn a recent operation, a joint effort by multiple departments led to the arrest of 119 illegal immigrants in Malaysia. The operation involved checking 400 foreigners and sealing two premises for employing unauthorized workers.
Read more »
Jesus Caritas-Kristus Aman hold joint PPAChristian News,World Christian News,Malaysia Church,Religion Christianity
Read more »