KUCHING, Dec 14 — Sarawak Democratic Action Party (DAP) chairman Chong Chieng Jen said he has been informed that Bank Simpanan Nasional (BSN) will begin making payouts to some victims of an investment fraud starting next week.

In a statement, he said the party would continue to closely monitor the payout process.

“Since the first exposé on Nov 28, I have had several meetings with BSN’s executive management and have followed up on all cases that were referred to me,” he said.

The statement was issued in light of another victim of the investment scam, committed by a BSN employee, having come forth seeking his advice and help for recovery of losses.

Chong said the latest victim, identied as Hong, had invested RM300,000 last year in the investment fund proposed by the BSN employee in question.

“He only came to realise that all this while, his so-called investment was actually a scam perpetrated by the BSN employee when he read the news about my expose of the scam in media.

“Upon reading the news, he went straight to BSN to check on his investment, only to be told that the Bank’s record does not have him as an investor of the fund,” he said.

Besides lodging a police report and filing a dispute claim, Chong said the victim had also travelled to Kuala Lumpur to lodge a report with Bank Negara Malaysia.

Meanwhile, the Stampin MP said two charges had been proffered against the suspects, namely one for the sum of RM16,000 and another for a sum of RM300,000.

“However, given that the primary suspect has cheated more than RM11 million from more than 70 individuals, I am expecting to see more charges to be proffered against the suspects,” added Chong. — The Borneo Post

Not just one bank I think

Wow , now onlinne onvesting is so dangerous

This was done by a BSN staff member in a BSN branch over a counter

Tipu, i tak caya oren kita derhaka kat kita balik.

Also it was based on BSN Sharia banking

But look, no riba wor!

Haha... Investing thru counter also not spared. Safest is have no money.

How it started: https://www.theborneopost.com/2025/11/28/ku...nvestment-scam/

Kuching couple loses RM400,000 to re-investment scam
By Samuel Aubrey on November 28, 2025, Friday at 9:25 PM

KUCHING (Nov 28): A couple here reported losses amounting to RM400,000 to a re-investment fund, which was later found to be non-existent.

Stampin MP and Democratic Action Party (DAP) Sarawak chairman Chong Chieng Jen said the lost fund was the couple’s savings in the Amanah Saham Bumiputera (ASB), earmarked for their children’s future tertiary education.

He said the couple was introduced to a financial product about two months ago, and subsequently, met a woman claiming that she was a staff member of Bank Simpanan Nasional (BSN) for further clarification.

“After that, the couple agreed to withdraw their ASB savings and reinvest them into ‘BSN Takaful Makmur’,” said Chong in a statement issued after meeting the couple prior to the day’s State Legislative Assembly (DUN) sitting.

He said the couple was issued what appeared to be official receipts, acknowledging an investment of RM200,000 each.

The funds were transferred directly from the husband’s ASB account and his wife’s BSN savings account, with the entire process being handled at the counter by the BSN staff.

“At no point did they handle the money themselves. All transactions were done at the BSN branch.”

However, their concerns were raised recently when they learned that the officer involved had been suspended over issues related to the same product.

“They then immediately checked with BSN, only to be told that no such account existed under their names, and no funds had ever been deposited,” said Chong.

The couple had lodged a police report and filed a formal dispute with BSN over the missing RM400,000.

Chong said he and his special assistant Michael Kong would assist the couple in pursuing the case, stressing that BSN must be held accountable.

“This is a matter that goes to the very fundamental integrity and accountability of a financial institution and public confidence in our banking system,” stressed Chong, adding that apart from a police probe, the matter would be raised with the Ministry of Finance and Bank Negara Malaysia for further action and investigation.

“We also urge BSN to promptly compensate the couple with the full amount of the funds wrongfully taken from them by the BSN staff,” said Chong.

Who will take responsibility: https://www.theborneopost.com/2025/11/30/ch...opriation-case/


Chong: BSN takes full responsibility to repay Kuching couple in misappropriation case
By Samuel Aubrey on November 30, 2025, Sunday at 8:01 AM

KUCHING (Nov 30): Bank Simpanan Nasional (BSN) has guaranteed that it will assume full responsibility and reimburse the RM400,000 allegedly misappropriated from a local couple by one of its employees, said Chong Chieng Jen.

The Democratic Action Party (DAP) Sarawak chairman said he received a call from the BSN Sarawak director yesterday following news reports detailing the couple’s plight.

“The director assured me that BSN has taken immediate action on the matter,” he said in a statement.

“He also assured me that BSN will take full responsibility for the wrongful act of the staff and return the money wrongfully taken from their customers upon conclusion of the investigation.”

Chong welcomed BSN’s prompt response and noted that he had already relayed the updates to the victims, identified as Dr Alex and his wife.

“Hopefully Dr Alex and his wife will recover their hard-earned money soon,” he added.

The couple sought Chong’s assistance after discovering that their RM400,000 life savings — transferred from their Amanah Saham Berhad and BSN accounts for what they believed was an investment in BSN Takaful Makmur — was never deposited into any legitimate account.

They grew suspicious upon learning that the BSN employee handling their transactions had been suspended over issues related to the same financial product.

A subsequent check with the bank confirmed that no such investment account existed under their names.

The couple has since lodged a police report and filed a formal dispute with BSN.

Key word
Scammed RM11 million from more than 70 individuals,

After jail 10 years, free like bird enjoy 11 mil.

Good ROI
LOL.

I want too.

This case highlights a serious breach of trust. Banks are generally held to the highest standards of audit and compliance precisely because they safeguard public funds. When an internal fraud of this scale occurs, it undermines confidence in the entire banking system. While BSN’s move to compensate victims is a positive step, it also raises questions about internal controls, risk management, and oversight mechanisms. For a bank employee to allegedly defraud over RM11 million from more than 70 individuals suggests systemic weaknesses that need urgent review. Transparency in the investigation and accountability for lapses will be critical to restoring public trust.

Illegal money tak kena freeze or forfeit?

Baca dik. Baca

given BSN receipts?

KALAU DAP 1 HARI TARAK TIPU ORANG TAK LEH KE??? pepegaman

Something doesnt add up. Kalau buat dekat bank, tak ada transaction slip ke? If they withdraw or transfer funds, there would be a resit. Kalau da sampai 400k, tak akan la bank tak ada internal fail safe or checking? Orang withdraw RM 10 over the counter also need the manager/officer to sign the slip plus any transfer more than 10k need bank negara to be informed.

So either the victims did not realise the name/number on the banking slip or there are more invloved than just the single officer.

Plus, now days want to mintak printout of account statement pun banyak tanya soalan, itu tak boleh, ini tak boleh.BSN pun banyak suka upsell their own products.

Paling senang, go back to using bank book, not perfect, but at least got some black and white.

Sudah simpan jauh
At Cayman Islands, wahahahaha.........



This post has been edited by empstar2: Dec 15 2025, 12:42 PM

So 1 year salary is 1m

Fantastical magikal BolehLand! Endless possibilities...so we all haz to be extra careful with our hard-earned money.

Head office visits: https://dayakdaily.com/bsn-reaffirms-no-cas...le-fraud-cases/

BSN reaffirms no-cash investment policy, special team set up in Satok to handle fraud cases
by DayakDaily Team


Chong (centre) in a meeting with BSN representatives and the fraud victims.

KUCHING, Dec 1: Bank Simpanan Nasional (BSN) has clarified that all genuine investments in financial products promoted by BSN will only be carried out via debit and fund transfers, and that no cash is allowed to be involved in all of such investments, Democratic Action Party (DAP) Sarawak chairman Chong Chieng Jen said.

In a press statement, Chong said this followed a meeting with BSN representatives regarding four victims who were allegedly scammed by a BSN employee.

He said BSN has since set up a special team stationed at BSN’s main office in Jalan Satok, Kuching, to handle fraud-related complaints. The team also reports directly to the HQ in Kuala Lumpur.

“Any person who has a genuine claim on such fraud matter can approach the team at the Cawangan and their claim will be given top priority for resolution,�? he said.

According to him, the four victims collectively lost RM600,000 in a fraud allegedly committed by a BSN officer, who promoted a fake investment scheme to them separately between December 2024, August and September 2025. The victims were instructed to withdraw cash from their BSN accounts, which the officer then pretended to invest. Each victim was later issued a fake ‘BSN’s official’ receipt.

Also present during the meeting were BSN Sarawak director as well as head of Branch Management from BSN’s Kuala Lumpur headquarters.

“I am glad that BSN’s top management has taken such swift action and hope that the victims will have their money back soonest possible,�? Chong added. – DayakDaily