KUALA LUMPUR: Public Bank Bhd's efforts in scam prevention have yielded significant results, having thwarted about RM1.65 billion in fraudulent transactions as of September 2024.
The bank said its proactive measures have protected over 1.12 million customers and prevented 3.42 million transactions from being routed to mule accounts used by fraudsters.
One of the keys to the success is the PB Scam Ranger initiative launched in June 2024, which empowers communities across Malaysia through awareness and education campaigns.
The PB Scam Ranger features a mobile team of cybersecurity fraud experts who travel nationwide, conducting interactive sessions to educate the public about evolving scam trends.
The initiative has made stops at Public Bank branches and major events such as the Business Foresight Forum 2024 and the National Day celebration in Putrajaya, as well as the Karnival Celik Kewangan in Pahang, hosted by Bank Negara Malaysia.
In addition to public education, Public Bank has implemented robust security measures, including a transaction cooling-off period, which has prevented over RM2.7 million in fraudulent transactions involving 530 customers.
The bank also employs digital outreach efforts via email campaigns, social media alerts, and in-app notifications to keep customers informed and protected.
Public Bank managing director and CEO Tan Sri Tay Ah Lek said: "We continuously enhance our security measures and work closely with authorities to address the ever-changing nature of scams.
"Customers must also remain vigilant and stay informed about various modus operandi of scams and frauds," he added.