Police: Selling or renting ATM cards risks syndicate abuse

KUCHING (Dec 28): Any form of selling or renting an automated teller machine (ATM) card or bank account may be taken advantage by crime syndicates to commit illegal activities such as money laundering or fraudulent schemes, warned the Bukit Aman Commercial Crime Investigation Department (CCID).

The department said that not only does this infringe the law, but once the crime syndicates use these rented ATM cards or bank accounts to commit crimes, account holders will be regarded as abetting the offence and subsequently face charges.

In a recent Facebook post, Bukit Aman CCID said the act of selling or renting an ATM card or bank account contravenes Section 424 of the Penal Code, which provides that dishonestly or fraudulently concealing or removing property carries penalties of up to five years’ imprisonment, or a fine, or both.

“Section 137 of the Financial Services Act 2013 also clearly states that it is an offence for any person to accept deposits without a licence.

“If found guilty, offenders can face a fine not exceeding RM3 million, or up to three years’ imprisonment, or both,” according to a See Hua Daily News report on Saturday.

Bukit Aman CCID pointed out that even if account holders claim they were not involved in the fraudulent scheme or any act of dishonesty, they would be held equally responsible for the misuse of their accounts.

The department said crime syndicates often lure individuals into handing over their ATM cards, personal identification number (PIN) and bank account details under the guise of investments, quick loans and partnerships.

Once a bank account is being used to accept illegal deposits, the account will be suspended and the holder will face charges, which can severely damaged their career and reputation, Bukit Aman CCID warned.

As such, Bukit Aman CCID urged the public not to give in to short-term interests or financial pressure and fall prey to such temptations.

It advised that anyone receiving calls requesting bank account details must reject the offer without hesitation and report the case to the police.

“Police will continue efforts to enhance enforcement and community education to curb commercial crimes, maintain social security and uphold the integrity of the entire financial system,” said Bukit Aman CCID.