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

Losses start adding up: https://www.theborneopost.com/2025/12/06/lo...ctims-involved/

Losses from fraud investment scheme tied to BSN officer exceeds RM11 mln, over 70 victims involved
By Lim How Pim on December 6, 2025, Saturday at 6:48 PM


Kong (left) and Dr Alex at the Tabuan Jaya police station.

KUCHING (Dec 6): Over 70 victims have come forward reporting losses exceeding RM11 million from the fraudulent investment scheme tied to a Bank Simpanan Nasional (BSN) officer, said Michael Kong.

The special assistant to Stampin MP Chong Chieng Jen said the “alarming figure” involved raised serious questions about internal controls and oversight within BSN.

“We have been informed that the bank officer in question is currently under remand until Dec 8,” he said in a statement following a visit to the Tabuan Jaya police station here.

Kong was at the police station accompanying three victims of the fraud — a Dr Alex, his wife and his sister — to attend an identification parade.

According to him, the family had collectively lost RM700,000 after the BSN officer allegedly misled them into investing in a bogus financial product.

Kong said many other victims were also present at the police station for the identification parade, and that it was clear from their discussions that the same modus operandi was used in each case.

“This reveals a serious breach of trust exploiting the good faith of ordinary Malaysians trying to grow their hard-earned savings.”

He said DAP will continue to assist Dr Alex and his family, as well as the other victims, in every way possible to ensure they receive the justice and restitution they deserve.

Kong also urged the authorities and BSN to expedite investigations, safeguard evidence, and ensure that all those affected are promptly compensated.

Dr Alex and his wife had on Nov 30 sought Chong’s assistance after discovering RM400,000 of their life savings had been transferred from their Amanah Saham Berhad and BSN accounts for what they believed was an investment in BSN’s Takaful Makmur.

The money, however, was never deposited into any legitimate account.

After their case came to light, more individuals came forward claiming they were similarly cheated by the fraudulent investment scheme linked to the BSN employee.

Hi GPT

Yes

Death penalty please

More victims come forward: https://dayakdaily.com/bsn-officer-tied-to-...-over-rm11-mil/

BSN officer tied to investment fraud under remand, 73 victims report losses over RM11 mil
By DayakDaily Team

KUCHING, Dec 6: To date, 73 victims have come forward reporting losses exceeding RM11 million, all linked to the same Bank Simpanan Nasional (BSN) officer implicated in an investment fraud case, said Michael Kong Feng Nian.

In a statement, Kong, who is the special assistant to Sarawak Democratic Action Party (DAP) chairman Chong Chieng Jen, said that the alarming number raises serious questions about internal controls and oversight within the bank.

“We have been informed that the officer in question is currently under remand until Dec 8,�? he said in a statement.

Earlier on, Kong said he accompanied some of the victims—Dr Alex and his wife, along with his sister—to the Tabuan Jaya police station, where they were requested to attend a police identification parade.

He said that the family collectively lost RM700,000 to a BSN officer who allegedly misled them into investing in a bogus financial product.

Kong also noted that many other victims were present, indicating that the same modus operandi was used in every case.

“We will continue to assist Dr Alex and his family, as well as the other affected victims, in every way possible to ensure they receive the justice and restitution they deserve.

“We also urge the authorities and BSN to expedite investigations, safeguard evidence, and ensure that all those affected are promptly compensated.

“At the same time, we will continue to monitor developments closely and stand firm with the victims in their pursuit of justice,�? he said.

The case first came to light on Nov 28 when Dr Alex and his wife sought Chong and Kong’s help after their lifetime savings amounting to RM400,000 had allegedly disappeared following the withdrawal of their investments from a unit trust management company to reinvest them in a financial product promoted by the bank officer.

They said that the funds were transferred directly in cash within the bank’s branch, and the victims never handled any of the money themselves.

It was only when they were informed that the bank officer in question had been suspended from work over issues related to the same product that they became alarmed.

They then immediately checked with the bank, only to be told that no such account existed under their names and no funds had ever been deposited.

Since then, on Dec 4, it was reported that 11 victims have registered claims of similar fraud cases involving the purported BSN employee, with an estimated RM1.6 million reported to have been misappropriated and swindled from them.

On Nov 29, BSN assured that they will take full responsibility for the employee’s action and return the money upon conclusion of the investigation.

Later, on Dec 1, BSN 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.

BSN has since set up a special team stationed at BSN’s main office in Jalan Satok here to handle fraud-related complaints. — DayakDaily

why the bank wanna take responsibility if this is done by their staff?

Soalan susah jangan persoal

Maximum penalty is 10 years in jail: https://www.theborneopost.com/2025/12/10/th...-product-video/

Three bank officers claim trial to cheating Kuching woman of RM16,000 with non-existent investment product
By Desiree David on December 10, 2025, Wednesday at 2:32 PM


The three accused are seen at the Kuching Court Complex. – Photo by Mohd Faisal Ahmad

KUCHING (Dec 10): Three officers of a bank here have been charged with cheating a 61-year-old woman of RM16,000 by deceiving her with a non-existent bank investment product.

The three accused aged 27, 31, and 54, pleaded not guilty before Sessions Court Judge Noorhisham Mohd Jaafar after they were each charged under Section 420 of the Penal Code read together with Section 34 of the same Code.

The Section carries a jail term of between one and 10 years with caning or fine upon conviction.

The judge further released them on RM10,000 court bail with one local surety each and fixed Feb 6 for case management.

According to the charge, the bank officers allegedly cheated the victim by deceiving her with a non-existent bank investment scheme and dishonestly induced her to hand over RM16,000.

They allegedly committed the offence at a bank on Jalan Tun Jugah here on Nov 15, 2024.

The three accused were represented by counsels Ralph Lee, Datuk Shankar Ram Asnani, and Voon Lee Shan respectively.

The case was handled by deputy public prosecutor Mohamad Aiman Mutallib Mohamad Shariff.

Vicarious responsibility

Plus minus reputation

Its not 1 or 2 rouge operators it seemsL https://www.theborneopost.com/2025/12/11/in...estment-scheme/

In Samarahan, two bank personnel claim trial to cheating woman of RM300,000 in non-existent bank investment scheme
By Churchill Edward on December 11, 2025, Thursday at 12:41 PM

KOTA SAMARAHAN (Dec 11): Two staff members of a bank have pleaded not guilty to deceiving a woman of RM300,000 in a non-existent bank investment scheme.

The two accused, aged 31 and 41, appeared before Magistrate Shafiza Abdul Razak Tready who released them on undeposited RM10,000 bail in two sureties each before fixing Jan 26 next year for pre-trial case management.

The two accused were charged with committing the cheating offence at a branch of the bank here on Aug 19 this year.

The offence under Section 420 of the Penal Code, read together with Section 34, is punishable with up to 10 years’ imprisonment and caning and/or a fine, upon conviction.

The magistrate also ordered that they surrender their passports and report to the nearest police station every week.

Deputy public prosecutor Mohd Fadzri Azham Zainudin had earlier requested RM500,000 cash bail in two sureties for both accused.

He submitted that they would be further charged under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLA) and argued there was a real risk they might attempt to abscond if the sum was too low.

Mohd Fadzru also submitted that the bail sum is to act as a deterrent against flight risk and that the case is of public interest.

However, counsel for the 31-year-old first accused Datuk Shankar Ram Asnani counter-argued that such a bail sum would effectively prejudge his client and seemed to be a tactic to put her behind bars.

Khairil Azmi Mohd Hasbie, counsel for the 41-year-old second accused, also said there is no reason for his client to abscond as he resides in Kuching and is a family man with no previous conviction.

On Wednesday, the 31-year-old first accused was charged with a similar offence involving RM16,000 in the Kuching Magistrates’ Court, where she also claimed trial.

So far, four personnel of the bank – two women and two men – have been charged with cheating in the non-existent investment scheme case.

SUPP gives useless advice: https://www.theborneopost.com/2025/12/13/cu...-says-supp-man/



The reason why this happened is because people went to a BSN branch, talked with a BSN staff at a BSN physical counter that convinced them to invest in what was claimed to be a "Takaful Makmur" account, which was a real product that BSN offered.

They've taken down the page: https://www.bsn.com.my/page/BSNTakafulMakmur

this tells you NEVER to use that Bank

/k mana reti baca

Tembak dulu, then never admit when wrong

where got susah?

Well before all this, under s20 Bank Simpanan Nasional Act 1974, the government of Malaysia is liable for all the money deposited in BSN.

PIDM only covers up to RM250,000

In theory the government has unlimited liability towards BSN

not just liability, what about internal controls, internal audit, oversight by managers, systems checks

customer bank in cash, printed receipt given, it must be tracked and balanced daily

i think same thing with other bank.
similar incident went to HSBC bank do some errand, she saw my balance > premier, then straight mention we will help you invest away with those fund for your growth, i told her fly kite i do my own investment.

Mestilah x blh kalau x tipu bukan dapig🫢🤣

#donebekap
#doneplotek

If the investment and the return are so good, they would have invest themselves already

It was handled by staff BSN but kena scammed by the staff🫢

First batch of BSN investment scam victims receive full refunds, says Padungan rep
By DayakDaily Team

KUCHING, Dec 22: The first batch of victims involved in the BSN investment scam has received full refunds of their losses, says Padungan assemblyman Chong Chieng Jen.

In a statement today, Chong revealed that one of the victims, Dr Alex, along with his wife, had each received a full refund of RM200,000 from Bank Simpanan Nasional (BSN), while Dr Alex’s sister was refunded RM300,000 last week.

“Today, Dr Alex and his wife came to my office to express their thanks and gratitude for the assistance rendered in helping them obtain the refund from BSN,” he said, adding that the couple also brought Christmas cake ahead of the upcoming Christmas celebration.

Chong welcomed BSN’s move to expedite the refund process, noting that the case involved many victims with differing circumstances.

“As there are many victims involved and each case comes with different facts, the refund will be carried out in stages,” he explained.

He assured that efforts would continue to ensure justice for all affected parties, particularly those who had lodged complaints through his office.

The refunds come amid investigations into an alleged investment fraud involving a BSN officer, which previously saw at least 73 victims reporting losses exceeding RM11 million.

The case first came to light on Nov 28 when Dr Alex and his wife sought Chong and Kong’s help after their lifetime savings amounting to RM400,000 had allegedly disappeared following the withdrawal of their investments from a unit trust management company to reinvest them in a financial product promoted by the bank officer.

They said that the funds were transferred directly in cash within the bank’s branch, and the victims never handled any of the money themselves.

It was only when they were informed that the bank officer in question had been suspended from work over issues related to the same product that they became alarmed.

They then immediately checked with the bank, only to be told that no such account existed under their names and no funds had ever been deposited.

Since then, on Dec 4, it was reported that 11 victims have registered claims of similar fraud cases involving the purported BSN employee, with an estimated RM1.6 million reported to have been misappropriated and swindled from them.

On Nov 29, BSN assured that they will take full responsibility for the employee’s action and return the money upon conclusion of the investigation.

Later, on Dec 1, BSN 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.

BSN has since set up a special team stationed at BSN’s main office in Jalan Satok here to handle fraud-related complaints. — DayakDaily

Source: https://dayakdaily.com/first-batch-of-bsn-i...s-padungan-rep/

I hv bsn term deposit bundle with SSP like in70:30 ratio... But using myBSN hp app cannot display the termdeposit figure ( no investment ) but can display SSP amount.
However using Computer website able to display both termdeposit and ssp amount.. should i be worried ?? Guy any one also having similar issue?