SHAH ALAM: Police have urged banks to beef up the security system of their internet banking services to avoid infiltration by cyber criminals.
Selangor police chief Comm Datuk Arjunaidi Mohamed said police are concerned as cyber criminals are capable of infiltrating personal data of individuals and companies to hack into bank accounts and siphoning millions of ringgit.
He cited a case reported to Selangor police last week where a local company lost RM2.9 million to cyber criminals.
“The company’s email account, which was used for online banking transactions, was hacked by cyber criminals. The scammers used the email address and sent out a message to a bank requesting for the company’s online banking username be changed.
“To substantiate the request, the crooks even attached forms with falsified signatures of the company’s officials. Without making further verification with the company officials, the bank went ahead and made changes to the online banking account username. Soon after, RM2.9 million belonging to the company was siphoned in 59 transactions. The funds were transfered to 18 mule accounts,” he said.
Arjunaidi added that in another case reported last month, a 71-year-old man lost RM6.3 million to cyber criminals in an “inheritance scam”.
He said between Dec 5 last year and Jan 24, the man had transferred the funds in 50 transactions into two mule bank accounts registered under a company.
“The banks should implement a stricter verification…
