Culprits behind BSN Makmur scheme must be brought to justice, says SUPP man
by Jude Toyat · Borneo Post OnlineKUCHING (Dec 13): Those responsible for undermining the integrity of Malaysia’s financial institutions through the BSN Makmur scheme must be identified and brought to justice, said Sarawak United People’s Party (SUPP) Public Complaints Bureau chief Milton Foo.
Calling for swift and decisive action, Foo urged Bank Negara Malaysia (BNM) and the Ministry of Finance to launch a comprehensive investigation into what he described as the financial scandal of the year, stressing that the issue extended beyond an internal matter involving a single bank.
“I also call on the Prime Minister and Finance Minister, Datuk Seri Anwar Ibrahim, to direct the relevant authorities, including the police, to investigate and prosecute the culprits in accordance with the law, whether under the Penal Code or the Anti-Money Laundering (Amla).
“This is not only about this particular bank, Bank Simpanan Nasional (BSN), but it involves public interest and it is crucial to preserve the dignity and the integrity of our national financial system and its reputation,” he told a press conference here.
Foo noted that media reports had estimated losses linked to the scheme at approximately RM11 million, while cases currently handled by his bureau involved about RM230,000.
He advised affected individuals to immediately verify their investments at bank counters.
“If you do put your money into this so-called scheme, please go to the bank and check and verify whether it is in existence or not.
“If not, lodge a police report, then submit to the bank to request a refund if it is not in the bank system,” he said.
Foo outlined three key steps for victims: verify the investment at the bank counter, lodge a police report if it is not reflected in the system, and complete the BSN customer dispute form.
He added that more complaints could emerge, as the scheme may have affected depositors over the past one to two years.
Warning of wider repercussions, Foo said the case had already shaken public confidence in the banking system, impacting both individuals and businesses.
“The bank is supposed to safeguard and then protect our hard-earned money. So now a lot of people feel that the banking system, we no longer trust the bank, that will affect or impair the public confidence in the bank,” he said.
Foo also advised the public to conduct transactions at physical bank counters rather than online where possible, to reduce the risk of scams and impersonation.
He urged victims who are unable to recover their funds to seek assistance from non-governmental organisations or the SUPP Public Complaints Bureau.
Also present at the press conference were members of the Persatuan Kebajikan Bersatu Kuching.