Make banks, telcos share responsibility for scam losses, says Guan Eng

Lim Guan Eng said despite police efforts to curb scams, losses associated with such cases had risen from RM700 million in 2021 to RM1.3 billion last year.

PETALING JAYA: Former finance minister Lim Guan Eng has called for a law that will hold negligent banks and telecommunication companies partially liable for financial losses resulting from scams.

Lim said the government should come up with a “shared responsibility framework” that would divide the losses incurred among financial institutions, telecommunications operators and consumers.

“Under such a framework, financial institutions and telecommunication companies would pay victims who lose money to a defined set of scams,” he said in a statement.

Lim was commenting on the huge amount of money lost to scammers, and fraudulent schemes, and the latest incident in which badminton ace Lai Pei Jing said she lost most of her life savings to fraudsters.

Lim, who is also DAP chairman, called for a special task force to investigate the over RM1.3 billion lost to scammers and fraudulent schemes.

He suggested that the task force be led by Inspector-General of Police Razarudin Husain.

Lim said despite police efforts to curb scams, losses associated with such cases had risen from RM700 million in 2021 to RM1.3 billion last year.

“Only the personal and direct involvement of the IGP can prevent more innocent Malaysians from falling victim to these heartless scammer criminals,” he said.

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