- This topic has 0 replies, 1 voice, and was last updated 1 month, 2 weeks ago by
.
- The Sessions Court has ordered Maybank to compensate a woman RM166,000 after finding that the bank failed to stop suspicious online banking transactions that emptied money from her account.
Judge Maimoonah Aid ruled that Maybank was negligent after fraudsters carried out multiple unauthorised online transfers using the Maybank2u account of 47-year-old Chan Yan Li in 2021.
According to court documents, the money was first withdrawn from Chan’s housing loan account and transferred into her savings account. It was then sent in stages to several third-party bank accounts between 26 June and 2 July 2021.
Chan only discovered the transactions on 15 July 2021 when she checked her Maybank2u account. She later lodged a police report.
She told the court that she did not approve the transactions and did not receive any Transaction Authorisation Code (TAC) messages on her registered mobile phone number.
Maybank denied wrongdoing. The bank argued that all transactions were carried out using Chan’s correct username and password. It also said TAC codes and transaction notifications were successfully sent to her registered phone number.
The bank further argued that there was no issue with its Maybank2u system. It suggested that Chan’s banking details may have been exposed due to her own negligence.
However, the court found that Chan was not an active online banking user. She usually used Maybank2u only for simple matters such as credit card payments or occasional money transfers.
The judge also pointed to inconsistencies between the TAC records produced by Maybank and phone records from Digi that were shown during the trial.
The court found that the transaction pattern was unusual and should have alerted the bank. Some of the transfers were carried out at odd hours, including around 5am.
The judgment stated that a bank should remain vigilant and use available technology to detect and prevent unauthorised and fraudulent transactions.
The court also noted that several mule account holders linked to the transfers had pleaded guilty in separate criminal cases.
Maybank was ordered to pay RM166,000 in compensation to Chan, along with RM15,000 in costs.
- You must be logged in to reply to this topic.