CENTRAL BANK TO INVESTIGATE FRAUDULENT TRANSFER OF FUNDS TO OVERSEAS ACCOUNTS

PEKAN (Malaysia), Jan 3 (Bernama) -- Bank Negara, Malaysia's Central Bank,
would investigate the case of funds from several local bank accounts being
transferred to overseas accounts without the account holders' permission, said
Deputy Prime Minister Najib Razak.

Najib, who is also Finance Minister, however, said that those affected
should lodge reports to facilitate investigations.

"I don't have the details of the matter but I believe that Bank Negara will
investigate," he told reporters after handing over awards to pupils who excelled
in the Ujian Penilaian Sekolah Rendah (UPSR), a local examination for primary
students, and opening a seminar on parenting, in this royal town located in east
coast state of Pahang, Saturday.

Najib was asked to comment on Saturday's newspaper report quoting Deputy
Minister in the Prime Minister's Department T. Murugiah, who also oversees the
Public Complaints Bureau, that funds from over 60 bank accounts were allegedly
being siphoned off monthly.

He did not discount the possibility that bank staff were feeding information
to the fraudsters, enabling the latter to transfer out the funds, and he also
revealed a case where money of a savings account holder was sent by a third
party via telegraphic transfer to an account in Indonesia.

It was also reported that a bank admitted the case happening and was
expected to undertake tighter security measures to prevent more people from
falling victims to cyber theft of funds believed to be the work of syndicates.

On the possibility of bank staff being involved in the fraudulent transfer
of bank account funds and the Internet banking system being hacked, Najib said:
"Let us investigate. Don't speculate."
-- BERNAMA