STRATEGIC PARTNERS
June 27, 2002
KUALA LUMPUR, Malaysia -- The number of financial institutions that have suspended their ATM links with the inter-bank Malaysian Electronic Payment System following the recent spate of unauthorized cash withdrawals has grown to six, according to a report in the New Strait Times.
They are Bumiputra Commerce Bank Bhd, Bumiputra Commerce Finance Bhd, Hong Leong Bank Bhd, Hong Leong Finance Bhd, Southern Bank Bhd and Southern Finance Bhd.
The banks have also limited their maximum daily cash withdrawals to RM1,000 ($268) as an immediate preventive measure to protect their customers' interests.
According to the New Strait Times, 10 other banks linked with MEPS had also initiated the RM1,000 limit for daily withdrawals via ATMs and were considering suspension to MEPS.
A MEPS spokesman, who declined to be named, said there was nothing wrong with their network as security was breached at the ATM terminals of individual banks and finance companies.
Bumiputra Commerce corporate services senior vice-president Datuk Bhupatrai M. Premji said they were monitoring the situation on a day-today basis and would lift the suspension, imposed on June 22, once security measures have improved.
"There is, however, no cause for panic as only 12 of our more than two million cardholders have encountered losses and 59 customers were affected by the skimming activities at other ATMS linked with MEPS," he said.
Premji said the bank is advising its customers to change its PINs regularly and to check the ATM for foreign devices before conducting transactions.
