“Robust security mechanisms are in place to detect the same,” it said in response to a recent article in Nanyang Siang Pau, titled “Enactment of laws to protect bank accounts”.

ABM said banks had also introduced additional measures for verifying customers’ identities in transactions such as new applications for bank loans, opening of new bank accounts and new online applications and interbank transfers.

For enhanced identity validation, it said, banks would require customers to provide additional documentation such as utility bills and other proof of ownership/identity, in addition to biometric authentication.

“Banks have been regularly educating and advising customers via SMS, email notifications and online banking portals to be on alert for scams and other forms of fraud,” it added.

The association said as reported in the media, cases of fraud typically involved bank customers themselves who transferred money out of their bank accounts to fraudsters after falling prey to scams.

“These are not cases of the banks’ systems being breached/compromised,” it said.

ABM reminded customers to remain vigilant in monitoring their bank accounts for any unauthorised transactions and to avoid falling prey to scams.

“When in doubt, customers should refer only to the bank’s official channels such as its website, call centre and/or branches for clarification.

“In the event that a fraudulent or unauthorised transaction is discovered, customers are advised to notify their banks immediately to enable the banks to initiate due investigation into the incident.”

Banks have ready investigation procedures in place to assist customers affected by unauthorised bank account transactions and identity misuse, it said.

Members of the public may contact ABMConnect at 1300-88-9980 or via eABMConnect at www.abm.org.my for any enquiries or complaints relating to banking matters.