EPF: Members will continue to earn dividends up to age 100
Tuesday, 20 Apr 2021 1:43 PM MYT
KUALA LUMPUR: The Employees Provident Fund (EPF) has clarified that members will continue to earn dividends for the remaining portion of their EPF savings up to age 100.
In a statement, EPF has clarified that an old statement regarding the maximum age of 75 years for EPF dividend payment, which is currently circulating via WhatsApp and other online platforms, is outdated and no longer applicable.
“As announced in an EPF media statement dated Nov 3, 2016, effective Jan 1, 2017, members will continue to earn dividends for the remaining portion of their EPF savings up to age 100,” it said.
“This measure was introduced following the amendment to the EPF Act 1991 to ensure that members who choose to maintain a portion of their savings with the EPF after retirement will continue to benefit from the compounding effect of annual dividends until their EPF savings have been fully withdrawn,” EPF said.
The EPF will inform members prior to transferring any unclaimed savings when the member reaches age 100.
Any claim after the transfer can be made through the Registrar of Unclaimed Monies.
The EPF urged members to be cautious of misleading or unsubstantiated information received through social media platforms and refrain from circulating them.
Members are advised to always verify the source and date of the information obtained.
Scammers hunting for victims on social media
Wednesday, 21 Apr 2021
GEORGE TOWN: After countless successful raids against Macau scam syndicates, fraudsters have started adopting new modus operandi to get people to part with their money.
Penang Commercial Crime chief Asst Comm Mohd Rosni Mohd Lazim said scammers would now swindle their victims via social media platforms such as Facebook, WhatsApp or WeChat, instead of the traditional face-to-face approach.
He said the situation was further aggravated as more people were now using online transactions.
“In the past, we had the pyramid investment schemes where victims attend briefings before parting with their money, or the ‘scratch and win’ contests where the victims were approached on the streets.
“Today, the victims would fall prey to financial scam advertisements on social media, ” he said.
ACP Rosni said police have recorded 342 cases in Penang in 2019 and 2020, with losses amounting to RM17mil.
“Till March this year, Penang has recorded another 37 cases related to the Macau scam, with losses amounting to RM699,937.
“The amount of losses from the Macau scam is among the highest compared to other commercial crimes involving individuals, ” he said.
Beware of motor insurance vultures
April 18, 2021
Remember the vultures who used to spill oil on the road to cause car crashes? They might be back, so watch out.
What has happened over the past few years is a baffling mystery: there are victims but no logical motive.
We’re talking about annual billion-ringgit fraud claims in the motor insurance business and a Bank Negara Malaysia-initiated programme to minimise losses to motor insurance companies.
It seems like these efforts between BNM and motor insurance companies grouped under the General Insurance Association of Malaysia (PIAM) to establish an ethical standard to the crash repair business have come to zero at the hands of the Malaysia Competition Commission (MyCC).
MyCC last year won a court judgment that penalised PIAM and 22 insurance companies for a total of RM174 million for offences against the Competition Act.
On that note, MyCC is also in the process of amending the law so that it can rule on mergers and acquisitions as it notably couldn’t when Grab and Uber merged in Malaysia a few years ago.
Let me tell you the story and see if you can solve the who-done-it question:
Like most progressive nations, Malaya went through a motorisation phase after the First World War when tin miners and rubber plantation owners were so rich that they bought British, French and American cars and rubber tappers without electricity bought fridges to store their food.
71-year-old woman loses RM18k in love scam
MELAKA: A 71-year-old woman fell victim to an online love scam before losing RM18,000 to a syndicate operating via social media.
State Commercial Crime Investigation Department chief, Superintendent E. Sundra Rajan said the senior citizen befriended a man via Facebook on March 27 and then continued their relationship through WhatsApp.
"During their initial introduction online, the suspect told the victim he would be traveling to Japan to work on a railway construction project via a cargo ship.
"He then made up another story saying he was detained at the Melaka Port and needed money to secure his release," he said.
The woman then told her nephew to help her with the transactions.
"The victim's nephew made seven payments amounting to RM18,000 to three different bank accounts given by the suspect.
"After the payment was made, the suspect kept asking for more money from the victim, but this time it was allegedly for the Customs officers who stopped him.
"The suspect deceived her again saying he had been detained by Customs officers because he was carrying a large sum of cash with him, which wasn't true," he said.
Sundra said the woman had sought her nephew's help again, but this time the nephew did not help her.
Loan sharks trap unsuspecting victims
19 APR 2021
KUALA LUMPUR: Police have uncovered a new tactic by loan shark syndicates in entrapping victims with loans they never took.
Federal police commercial crimes investigations director Commissioner Datuk Zainuddin Yaacob said yesterday that the scam would begin with a sum of cash being deposited into the bank accounts of an unsuspecting individual.
He said the syndicate members would then call up the bank account holder and inform him or her that the deposit was mistakenly made before requesting the cash be returned.
“The victims usually obliged the request and would return the cash. However, about a month later, unlicensed moneylenders would began calling up the victims and demand repayment for a purported loan they took, often the exact sum that had been deposited into their bank account and returned to the syndicate earlier.” he said.
Zainuddin said although police have not received reports of such cases, he did not discount that it existed or has occurred.
He advised the public to be cautious at all times if they are faced with such scams.
Zainuddin said if the public found cash deposited into their bank accounts without their knowledge or consent, they should lodge a police report and raise the matter with the bank concerned to seek advice on how to address the issue.
Source: https://www.thesundaily.my/local/loan-sharks-trap-unsuspecting-victims-EC7756134
Kahwin tak jadi, lesap RM223,010
April 16, 2021 @ 10:26am
Kota Bharu: Menjalin hubungan cinta dan dijanjikan untuk berkahwin menyebabkan seorang ibu tunggal lesap RM223,010 kerana diperdaya sindiket 'Love Scammer'.
Taktik itu digunakan suspek dengan menyamar sebagai individu yang berpangkat 'Datuk' dan berkenalan dengan mangsa yang juga seorang penjawat awam berusia 44 tahun.
Ketua Polis Kelantan, Datuk Shafien Mamat berkata, mangsa berkenalan dengan suspek yang kononnya menetap di Amerika Syarikat menerusi media sosial Facebook pada November tahun lalu.
"Mangsa dan suspek kemudiannya meneruskan hubungan menggunakan aplikasi Whatsapp dan lebih kurang dua bulan selepas itu suspek memberitahu ingin menjalinkan hubungan lebih serius serta berhasrat untuk berkahwin.
"Pada Januari lalu, suspek menyatakan dalam proses berpindah ke Malaysia untuk bekerja dan mendakwa kad kreditnya mengalami masalah untuk digunakan.
"Sehubungan itu, suspek meminta wang daripada pengadu untuk pelbagai tujuan dan antara Januari hingga 9 April lalu, mangsa sudah membuat sekurang-kurangnya 59 transaksi pembayaran ke 10 akaun bank milik individu berbeza dengan jumlah RM223,010," katanya kepada pemberita di sini, hari ini.
‘Why are our good veggies going overseas while we eat low-quality, high-priced imports?’
Food supplier calls for better quality control to ensure Malaysians not getting the short end of the stick
15 Apr 2021
GEORGE TOWN – Food prices in Malaysia, especially vegetables, may be rising, but instead of getting better produce, the higher grade crops are exported and locals are left with third-grade leftovers.
Vegetable supplier David Mariadass told The Vibes that, though Malaysia produces high-quality fresh produce, such as tomatoes, carrots, cabbages and turnips from Cameron Highlands, more than often than not, it is never consumed by Malaysians.
“We send our good produce over to Singapore. For example, when we export our best tomatoes to Singapore, they repackage them and export them to Europe.
“And, guess what? The sticker on the package says ‘Product of Singapore’!”
Now that Malaysia’s population has increased and development has taken over agricultural land, David worries that food shortages will cause the price of vegetables to skyrocket, hitting the most vulnerable groups worst.
“For example, countries like India do not export foodstuff if there is not enough supply for the people, but we still export our first-grade food, even when there is not enough for our population, and we import tomatoes, carrots, cabbages and turnips of substandard quality from China.
“We also import vegetables from Thailand, and those are cheap, but when there is a high demand, it will also hike up its prices, so who will lose out in the end?”
Read more: ‘Why are our good veggies going overseas while we eat low-quality, high-priced imports?’
Polis kesan penipuan guna web palsu Maybank2u
April 16, 2021
Kuala Lumpur: Polis Diraja Malaysia (PDRM) mengesan satu bentuk penipuan dalam talian melibatkan beberapa kes yang menggunakan laman web Maybank2U palsu bagi mengambil wang dalam akaun mangsa tanpa disedari.
Pengarah Jabatan Siasatan Jenayah Komersial (JSJK) Bukit Aman Datuk Zainuddin Yaacob berkata, dalam kes ini, sindiket ini akan menghantar e-mel kepada mangsa yang kononnya e-mel itu dihantar oleh pihak Maybank dengan menyatakan akaun milik mangsa mempunyai masalah keselamatan.
Beliau berkata, mangsa kemudiannya diminta untuk menekan pautan yang disertakan di dalam e-mel berkenaan.
"Setelah pautan ditekan laman sesawang seperti Maybank2U akan dipaparkan, namun tanpa disedari ianya merupakan laman sesawang palsu dan mangsa kemudiannya dikehendaki mengemas kini butiran peripadi, kata laluan serta nombor telefon melalui laman sesawang terbabit.
"Tidak lama setelah pengemaskinian dilakukan, mangsa akan mendapati wang di dalam akaun miliknya telah berkurangan," katanya dalam satu kenyataan hari ini.
Beliau berkata, berdasarkan rekod, PDRM menerima sebanyak empat laporan berkaitan kes penipuan melalui pautan Maybank2U palsu membabitkan kerugian RM22,300 dan suspek belum dikenal pasti.
Maybank warns of new fake banking website created to steal customer details
Thursday, 15 Apr 2021
PETALING JAYA: Maybank has issued a scam alert warning customers about a new fake Maybank2u website created by fraudsters to steal banking information.
In a post on Twitter, Maybank shared that fraudsters will attempt to lure customers to login to bogus Maybank2u sites through messages sent via WhatsApp, SMS or email.
These messages aim to hoodwink customers into revealing their personal details – such as username, password, phone number and IC number – typically with false claims that their accounts have been compromised or judged as “high risk” by the bank’s system and that the user is required to “re-verify” their details.
Maybank stated that the company will never send reminders via SMS, email or WhatsApp with links urging users to login or update their Maybank2u account.
As an added security measure, it also reminded customers to manually key in the Maybank2u URL – maybank2u.com.my – to access their account as links provided by others may not be safe.
The company previously issued an alert about a fake Maybank2u website in February which was used by scammers for phishing attacks. Customers were lured to the fraudulent website through a promotional post on Facebook with the promise of winning some prizes.
Customers who may have revealed their Maybank2u login details on scam websites are urged to contact the bank immediately at (03) 5891 4744.
Read more: Maybank warns of new fake banking website created to steal customer details
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