Sarawakians Lose RM600K In Alleged Employee Fraud, Bank Promises Compensation

The victims alleged that a BSN employee sold them fake financial investment plans, asking them to withdraw cash from their accounts before issuing forged bank receipts.

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Four people claiming to have been defrauded by a Bank Simpanan Nasional (BSN) employee met with the bank’s management representatives.

The meeting was arranged by Sarawak Democratic Action Party (DAP) chairman Chong Chieng Jen.

The four victims alleged that a BSN employee had sold them fake financial investment plans between December 2024 and August and September 2025, resulting in total losses of RM600,000.

All victims were asked to withdraw cash from their respective bank accounts.

They each received what appeared to be bank receipts issued by the employee, which turned out to be forged. The employee has since been suspended by the bank.

Common Pattern In Fraud Cases

During the meeting, bank representatives informed attendees that all legitimate financial products offered by BSN can only be transacted through debit card or fund transfer methods.

Cash transactions are strictly prohibited.

“All the fraud cases that have occurred share a common characteristic – the scammer asks victims to withdraw cash from their accounts. Subsequently, the employee involved would count the cash within the bank premises and pretend to use the cash for investment,” the bank explained.

BSN representatives assured the four victims that the bank would expedite its internal investigation.

Importantly, regardless of whether the bank can ultimately recover the funds from the employee involved, BSN will bear full responsibility for the victims’ losses.

The bank also emphasized that it has zero tolerance for any integrity issues and will not cover up illegal actions by its employees.

Chong expressed relief that BSN’s top management had taken swift action. He pledged to continue following up on the matter until victims successfully recover their funds.

Special Task Force Established

Chong revealed that since he issued a statement on 28 November, he has received several more complaints.

He had previously highlighted a case where a couple in Kuching lost RM400,000 after being persuaded to reinvest their ASB savings into a non-existent investment scheme identified as ‘BSN Takaful Makmur’.

Following the complaints, Chong learned that BSN has established a special task force at its main branch on Jalan Satok in Kuching.

The task force will report directly to headquarters.

Anyone with valid claims in such fraud cases can contact the task force at the branch, where their claims will be given priority for resolution.

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