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  PIDM issues scam warning


KUALA LUMPUR (June 14, 2012):The Malaysia Deposit Insurance Corp (PIDM) has reminded the public to not act on any request to transfer money out of their bank accounts or make payment to it for the purpose of paying fees for insurance protection.

In a statement today, PIDM said it does not send out such requests nor does it collect fees from the public, depositors or takaful and insurance policy owners for deposit insurance or takaful and insurance benefit protection.

CEO Jean Pierre Sabourin said deposit insurance and takaful insurance benefit protection is provided by law and is automatic while no application or payment is required.

"We wish to inform the public of this scam so that they can protect themselves against the fraudsters," he added.

He said anyone receiving such a request, can contact PIDM's information centre, at its toll free line, 1-800-88-1266.

The PIDM is a government agency established under the Malaysia Deposit Insurance Corporation Act to administer the national deposit insurance system and the takaful and insurance benefit protection system (TIPS). – Bernama

Source: The Sun, 14 June 2012

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