ON April 1,2021, the Federation of Malaysian Consumers Associations (Fomca) and National Consumer Complaints Centre (NCCC) alerted the public about the sudden spike in scam-related complaints and asked them to be cautious and remain alert of such scams.
Perbadanan Insurans Deposit Malaysia (PIDM), as a statutory body that provides protection for financial consumers, is concerned about this issue.
PIDM wishes to inform the public that it only protects deposits kept in banks and with financial institutions that are member institutions of PIDM. This is in accordance with the mandate given to PIDM under the Malaysia Deposit Insurance Corporation Act 2005.
Depositors may check the list of PIDM member institutions at:
> https://www.pidm.gov.my/en/for-public/deposit-insurance-system-dis/member-banks/ (for the list of member banks); and