KUALA LUMPUR: Public Bank Bhd will continue to step up its security measures against the diverse modus operandi of scams and frauds.
One of the latest scams involved an illegal syndicate offering loans through social media platforms with low-interest rates, it said.
Managing director and CEO Tan Sri Tay Ah Lek said that the bank is working closely with the authorities to address such scams and frauds.
“Meanwhile, customers are reminded to remain vigilant and to keep themselves updated of the various modus operandi of scams and frauds,” he said in a statement yesterday.
Public Bank said it does not request sensitive banking information or upfront fees to be paid to personal accounts.
The bank also does not offer guaranteed approval which can be appealing to certain borrowers.
Customers are advised not to respond to loan advertisements through social media platforms.
Instead, customers are advised to verify what they have seen with legitimate financial institutions before proceeding with their applications, it said.
