{"id":5544,"date":"2025-03-27T03:28:39","date_gmt":"2025-03-27T03:28:39","guid":{"rendered":"https:\/\/fmos.org.my\/?p=5544"},"modified":"2026-04-29T15:44:09","modified_gmt":"2026-04-29T07:44:09","slug":"retiree-fell-victim-to-sms-scam","status":"publish","type":"post","link":"https:\/\/www.fmos.org.my\/en\/retiree-fell-victim-to-sms-scam\/","title":{"rendered":"Retiree fell victim to SMS Scam\u00a0"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Julie, a 70-year-old retiree, received an SMS from a bank stating that RM3,000 had been transferred and if she did not perform the transaction, she should call the number listed in the message. Julie called the number and reported the purported unauthorised transaction.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">She spoke to someone who posed as an officer from Bank Negara Malaysia. The person requested her card information to safeguard her existing accounts with her bank.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Shortly after, she realised something was amiss and contacted her bank.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">She was told there were multiple transactions amounting to RM50,000 involving her two credit cards and a debit card. She denied the transactions and filed a complaint with the bank.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The bank rejected Julie\u2019s claim because the transactions were performed with a secured One-Time Password (OTP) sent via SMS to her registered mobile number. Julie also contended that she did not disclose any OTP for the said transactions.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><strong>FINDINGS<\/strong><\/h5>\n\n\n\n<p class=\"wp-block-paragraph\">According to the bank\u2019s records, the disputed transactions were conducted through the merchant\u2019s secure Three Domain (3-D) platform, which required credit card particulars, such as the card number, expiration date, and CVC\/CVV codes.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The transactions were subsequently authorised upon verification of the OTP, which serves as an added layer of security to prevent any potentially fraudulent activities. The bank\u2019s record showed that OTP SMS and transaction alerts were delivered to Julie\u2019s mobile number registered with the bank.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Completing the transactions online would not have been possible without the necessary credit and debit card information and a valid OTP.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">We believe Julie fell prey to an SMS scam, and her card details and OTPs were compromised. Julie\u2019s card statement revealed that she had never made online transactions using her cards prior to this incident. Additionally, the disputed transactions did not reflect Julie\u2019s usual credit card(s) average monthly spending, which is below RM200.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><strong>OUTCOME<\/strong><\/h5>\n\n\n\n<p class=\"wp-block-paragraph\">While the Case Manager acknowledged Julie\u2019s responsibility to safeguard their banking credentials, she opines that the bank must monitor unusual online transactions, especially involving vulnerable consumers.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Julie\u2019s loss could have been prevented if the bank had implemented safety measures. The Case Manager recommended that the bank and Julie share the liability for the disputed sum equally. The bank rejected the recommendation and referred the matter for adjudication.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Ombudsman reviewed the case and concurred with the Case Manager\u2019s Recommendation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Julie, a 70-year-old retiree, received an SMS from a bank stating that RM3,000 had been transferred and if she did not perform the transaction, she should call the number listed in the message. Julie called the number and reported the purported unauthorised transaction. She spoke to someone who posed as an officer from Bank Negara [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":5394,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[26,25],"tags":[],"class_list":["post-5544","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking-islamic-banking-payment-systems","category-case-studies"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Retiree fell victim to SMS Scam\u00a0 - FMOS<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.fmos.org.my\/en\/retiree-fell-victim-to-sms-scam\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Retiree fell victim to SMS Scam\u00a0 - FMOS\" \/>\n<meta property=\"og:description\" content=\"Julie, a 70-year-old retiree, received an SMS from a bank stating that RM3,000 had been transferred and if she did not perform the transaction, she should call the number listed in the message. 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