Every day there are news on ordinary people being scammed and there are also news of mule account holders being charged.

"All of the mule account holders are locals, not only from longhouses and villages in rural areas but also from Bintangor town."
https://www.nst.com.my/news/nation/2025/09/...rested-meradong

I think one way to handle this issue of scams and mule account is placing restrictions on personal savings account.

Usually we open a savings account for receiving our monthly salary. And in some cases receiving monthly allowance from children.

To avoid the savings account to be miss used, transactions from savings account to savings account should be restricted with set limits. The account should also have 1 or 2 "favourite" accounts and can only transfer money (on-line) into these favourite savings accounts only.

These favourite savings accounts would have to pre-register with 24 hours cooling period. Plus limited amount of 1k or less.

So for those doing e-commerce and receiving money from multiple customers, they have to open a business account to receive money from their customers.

In short, Bank Negara should differentiate savings accounts from business accounts by placing more restrictions on savings accounts and their transactions. Savings account receiving money from other than the 2 or 3 regular sources would be freezed.

Senior citizen loses nearly RM6mil to scammers

Thursday, 09 Oct 2025

SHAH ALAM: A senior citizen has lost nearly RM6mil after falling victim to a phone scam.

Selangor police chief Datuk Shazeli Kahar said the 73-year-old victim, a private sector retiree, received a call in May from a man claiming to be from the national anti-financial crime centre in Putrajaya, telling her she was involved in a money-laundering case.

She was then instructed by another scammer to "declare her assets" and savings.

Then in June, the victim was instructed to open four bank accounts and deposit her savings into the newly opened accounts.

"She was told to put all the ATM cards in an envelope and leave it at a playground in USJ and to give her banking information to them," he said in a statement on Thursday (Oct 9).

Shazeli said the victim only realised she had been duped after her child told her it was a scam.

However, it was already too late as she had already lost RM5,996,586.51.

https://www.thestar.com.my/news/nation/2025...mil-to-scammers

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Sad... when you grows older and losing your mind and not trusting your love ones to take over and manage your wealth.

Prime target for scammers.

More likely the latter... they asked, she provided the info herself.

It's a long scam over several days. All was already lost in June, when she opened 4 new accounts and transfered her money into these new accounts.

Nowadays, it is easy to open an account online and without going to a bank. The scammer would be guiding her step by step on registrating a new account over the phone. And the scammer's phone number would be used as the registered phone number.

The atm/debit cards, which were later send by the bank(s), are not needed as the scammer had already gained control over the new savings accounts and the money can be transferred out online (using his phone).

The atm cards instructed to leave at the playground is a ruse. I doubt the scammer intended to come and collect the debit cards. It is just a means to get rid of the debit cards so that nobody else knows the woman has opened new savings accounts.

How to apply for a Current or Savings Account/-i
(For new non-Maybank customers)

And how to activate the newly created account.

I was a long time customer of a bank, and the branch manager was my introducer. It's a personal chequing account. But that was many years ago and had not issue a cheque in a long time. Even recently, I bought a banker's cheque instead of writing a cheque because I was afraid it would bounce as my signature might not match as before.

Anyway, I think the receiving account is the crucial link in these scams. Scammers have to use 3rd party mule accounts to hide their identities.

Banks should profile personal savings accounts and freezes it when there are unusual higher number of transactions into it than before.

Suspicious transactions can be detected. They are the banking experts. I think it is more a question in whether the bank is breaking any policy on client's privacy. But newer policies are created all the time.

Sarawak police identify 2,354 mule accounts involved in over RM40m scam losses
https://www.malaymail.com/news/malaysia/202...am-losses/79280

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LUBOK ANTU: Police arrested a local man yesterday (Oct 7) for allegedly acting as a money mule in an online fraud case.

The suspect, in his early 40s, is believed to be invovled in the case reported in Negeri Sembilan and incurred losses of around RM1,250.
https://www.sarawaktribune.com/man-picked-u...-as-money-mule/

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9 October 2025
SARATOK: Police arrested two individuals believed to be involved in a series of phone scam cases during an operation codenamed Ops Kesan, conducted by the Saratok District Police Headquarters’ Commercial Crime Investigation Division today.

"Both of the suspects, believed to be mule account holders, admitted that the bank accounts used were under their names but claimed ignorance of any money being deposited."

https://www.sarawaktribune.com/two-arrested...ine-scam-cases/

Mule accounts not necessary when crypto ATMs is more widespread and easily available...

JB kindy teacher loses RM100K to scammer posing as her hubby on WhatsApp

https://www.thestar.com.my/news/nation/2025...bby-on-whatsapp

Monday, 27 Oct 202511:36 AM MYT
JOHOR BARU: A kindergarten teacher here has been cheated of RM100,000 by an individual impersonating her husband, who was away on business, via WhatsApp.

Johor Baru South OCPD Asst Comm Raub Selamat said that according to the 52-year-old woman, she received a message from her husband's number last week.

"The impersonator requested her to transfer RM100,000 as his bank account could not be accessed," he said in a statement on Monday (Oct 27).

ACP Raub said that at the time, the victim's husband – the general manager of a private company in Mount Austin here – was in China on a week-long business trip.

He added that the victim unsuspectingly made seven transactions amounting to RM100,000 to two different banks on Friday (Oct 24).

“Upon completing the transactions, she called her husband to check if he had received the money, but he told her that his mobile phone had been hacked," he said.

The case is being investigated under Section 420 of the Penal Code for cheating.

Ex-civil servant loses RM3.07mil to online investment scam

https://www.thestar.com.my/news/nation/2025...investment-scam

Monday, 27 Oct 20256:17 PM MYT

JOHOR BARU: A government retiree allegedly lost RM3.07mil after being hoodwinked into joining a fraudulent online investment scheme.

The 62-year-old victim came across an advertisement on social media in July promising instant profits.

“The victim clicked a link and was connected to the suspect, who instructed her to download an app on her phone,” said Johor police chief Comm Datuk Ab Rahaman Arsad.

Comm Ab Rahaman said the victim was told that she could monitor her investments via the app.

Believing she could make a quick profit, the victim made 29 transfers amounting to RM3,070,433 into six different bank accounts between Aug 19 and Oct 15.

“The victim only realised she was cheated after the suspect became uncontactable and she was unable to withdraw her profits,” he said.

Comm Ab Rahaman said the victim lodged a police report on Oct 24, and the case is being investigated under Section 420 of the Penal Code for cheating.

Some 154 million bank accounts cleaned, and $56.9 million in suspicious transactions blocked

October 06, 2025 | 14:40

https://en.vneconomy.vn/some-154-million-ba...ons-blocked.htm

The central bank’s Anti-Money Laundering Department, in cooperation with the Ministry of Public Security, scrubbed 154 million accounts and 36 million customer files from the national database on money laundering and terrorist financing.

The State Bank of Vietnam (SBV) announced that it has cleaned up 154 million bank accounts and flagged nearly 300,000 customers for suspected fraud, blocking transactions worth a combined VND1.5 trillion ($56.9 million), according to report released by the Vietnam News Agency on October 6.

The bank’s Anti-Money Laundering Department, in cooperation with the Ministry of Public Security, scrubbed 154 million accounts and 36 million customer files from the national database on money laundering and terrorist financing. The National Credit Information Center (CIC) similarly cross-checked 57 million records, cleansing nearly 44.5 million customer files from its credit information database.

Director of the SBV’s Information Technology Department Le Hoang Chinh Quang was quoted by the news agency as saying that 57 banks and 39 intermediary institutions integrated biometric authentication into mobile banking platforms; and that more than 128.9 million personal accounts and 1.3 million corporate accounts were verified biometrically, or 100% of active digital banking users.

Over the past time, the central bank has identified some 600,000 accounts showing suspicious activity. Through collaboration with banks, authorities warned nearly 300,000 customers and blocked transactions totaling around VND1.5 trillion.

Deputy Director of the Anti-Money Laundering Department Nguyen Thi Minh Tho, as quoted by the news agency, said that the department is implementing the Government’s resolution on piloting crypto trading market, with four major missions of establishing anti-money laundering obligations for encrypted asset service providers; collecting, processing and transferring information about suspicious transactions; ensuring close coordination among the SBV, the Ministry of Finance, the State Securities Commission and the Ministry of Public Security; and fostering international cooperation to enhance anti-money laundering effectiveness.

The central bank is developing specific guidelines for financial institutions to provide related services while meeting legal requirements for combating money laundering, terrorist financing and financing of weapons of mass destruction proliferation, tailored to the characteristics of the encrypted asset market.