Anwar: Banks Must Quickly Restore Access for Cleared Fraud Victims

Banks must move quickly to give scam victims full access to their bank accounts once they are cleared of wrongdoing or no longer considered a risk, Finance Minister Datuk Seri Anwar Ibrahim has said.

Anwar, who is also Prime Minister, gave the assurance in a written parliamentary reply on Thursday (Oct 22), The Star reported.

Help for scam victims’ bank accounts

He was responding to Wan Razali Wan Nor (PN-Kuantan), who asked what was being done to ensure that scam victims whose accounts had been frozen because of identity theft did not lose access to subsistence aid and monthly government payments.

In his reply, Anwar said that, subject to risk assessments, banks must consider letting affected customers use restricted accounts so they can still carry out basic transactions, including receiving subsistence assistance and other monthly government incentives.

He added that banks are expected to “adopt a fair and reasonable approach” when dealing with accounts suspected of being used as mule accounts.

Bank Negara fraud response rules

The requirement is part of Bank Negara Malaysia’s push to strengthen and standardise how banks respond to financial fraud, through its policy document titled Financial Institutions’ Response to Fraud, which took effect in July 2026.

Under the policy, financial institutions must carry out internal assessments to decide whether an account holder is a perpetrator of fraud, a victim who was exploited, or a victim of identity theft.

How long restoration takes

On the question of timing, Anwar said the time needed to restore an account depends on the facts presented and the complexity of each investigation, including the verification information involved, and remains subject to the relevant legal provisions.

#latestmalaysia

New: Melaka Police Raid Two Scam Call Centres, Arrest 29 Foreigners