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