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Fomca: More than 1,500 complaints on insurance industry received over past year PDF Print E-mail
Monday, 19 July 2021 12:59

Welcome to National Consumer Complaints Centre HomepageFederation of Malaysians Consumers AssociationsFriday, 16 Jul 2021 6:25 PM MYT
PETALING JAYA: The Federation of Malaysian Consumers Associations (Fomca) received more than 1,500 complaints regarding insurance companies last year, a number of them involving the substantial increase of medical insurance premiums.

Fomca national consumer complaints centre senior manager S. Baskaran said some of the increases were so steep that consumers could not afford the premium under short notice.

"Even more so during the pandemic when people have lost their jobs or taken drastic pay cuts.

“It's not fair to increase the premiums as it (medical insurance) is an important thing to have," he told a press conference on Friday (July 16).

Baskaran said one complainant, a 60-year-old physically challenged woman who bought her policy 12 years ago and was paying a monthly premium of RM159, received a notification that it had been increased to RM459, an increase of 188%.

"If the premium increases by too much, there is a possibility that the policy may lapse and eventually be terminated if the holder is unable to keep up with the payments," he said.

Fomca had on Friday submitted a memorandum to Bank Negara deputy president Abdul Rasheed Ghaffour on the issue and six other matters regarding insurance.

It urged the central bank to look into the complaints, saying that consumers need policies that are able to protect them and their families.

"The onus is on the insurance industry to develop and revamp in the areas where there are many weaknesses.

"It has to cover every angle so as not to put policyholders in a difficult situation. Bank Negara must be more vigilant and ensure that consumers are well protected,“ said Baskaran.

The other complaints Fomca received included cash values accumulated over time being utilised to cover revised total premiums without the consent of the policyholder; consumers told to pay first and claim later; disputes on claimd; as well as misleading terms in policies.

 

Source: https://www.thestar.com.my/news/nation/2021/07/16/fomca-more-than-1500-complaints-on-insurance-industry-received-last-year

 
Regulate steep hike in insurance premiums, Bank Negara told PDF Print E-mail
Monday, 19 July 2021 12:55

Welcome to National Consumer Complaints Centre HomepageFederation of Malaysians Consumers AssociationsJuly 16, 2021 6:43 PM
PETALING JAYA: The National Consumer Complaints Centre (NCCC) has urged Bank Negara Malaysia (BNM) to regulate the steep increase in insurance premiums.

In a memorandum sent to BNM, NCCC, a division under the Federation of Malaysian Consumers Associations, said insurance companies were increasing premiums at such a rapid rate that consumers were unable to pay at short notice.

Its senior manager, Baskeran Sithamparam, said the time frame given for the increase in premium to take effect is often rather short.

“Policyholders need time to adjust to the premium increase.”

Baskeran said that if the premium increase was too big, there was also a high possibility that the policy may lapse, with the policyholder being unable to keep up with payments.

“BNM should regulate the insurance premiums very strictly. If there is any increase, the justification must come from BNM as insurance companies are under its purview.”

Baskeran added that although patients had medical cards, there had been numerous instances when insurance companies denied approval for certain treatments.

In fact, he said insurance companies would insist that the policyholders pay the expenses first and claim later in certain cases.

Baskeran said it was unfair for insurance industries to expect policyholders to pay first as they had been paying their premiums promptly.

“Consumers paying their premiums but being unable to use their medical card will lead to distrust in insurance companies.

“The ‘pay first, claim later’ practice should be abolished. It should not be applicable when a medical card has been provided,” he said.

Baskeran also said BNM should ensure there are affordable medical insurance policies for those in the lower-income bracket.

“In short, BNM must be more vigilant and ensure consumers who buy insurance policies are well protected,” he said.

 

Source: https://www.freemalaysiatoday.com/category/nation/2021/07/16/regulate-steep-hike-in-insurance-premiums-bank-negara-told/

 
Facebook Collaborates On #TakNakScam Campaign PDF Print E-mail
Friday, 16 July 2021 16:37

Facebook is testing a TikTok-style short video format on its main app in  India | HT TechJuly 16, 2021
KUALA LUMPUR, July 12 – As part of the industry effort to fight financial fraud, Royal Malaysian Police’s Commercial Crime Investigation Department (CCID) and Facebook Malaysia, in partnership with government agencies, industry and consumer associations today launched a nationwide #TakNakScam awareness campaign to educate the public on how to identify, check and report against highly deceptive tactics employed by scammers.

In a statement, Facebook said this ongoing campaign held from July till the end of September is a joint effort between CCID, Royal Malaysian Police, Ministry of Domestic Trade and Consumer Affairs (KPDNHEP), Securities Commission Malaysia (SC), Bursa Malaysia Bhd, Malaysian Communications and Multimedia Commission (MCMC), CyberSecurity Malaysia (CSM), The Association of Banks in Malaysia (ABM), Federation of Malaysian Consumers Associations (FOMCA) and the Education and Research Association for Consumers, Malaysia (ERA Consumer Malaysia).

“More people than ever before are now online and social media helps people stay connected with communities, families, and friends around the world,” Facebook Malaysia Acting Country Director Justin Murugaya said.

“However, it is not just the good guys that are online.

“With the rising scam cases across Malaysia, we hope that this campaign will help support various law enforcement and government agencies, industry and consumer associations and the financial services sector in building and ensuring a safer online ecosystem in Malaysia.”

Many Malaysian have become victims of frauds and scams since the beginning of the Movement Control Order (MCO), financial scams being most prevalent, as scammers exploit increasing reliance on technology.

According to PDRM, cybercrime fraud in Malaysia is on the rise at a concerning level.

Over the last five years, a total of 67,552 cyber scam cases were reported between 2017 till this June 20, recording a total loss of RM2.23 billion.

Of the total, e-commerce scams top the chart with 23,011 cases, followed by illegal loans 21,008 cases and investment scams, 6, 273 cases.

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MEDIA INVITATION: PRESS CONFERENCE ON MEMORANDUM SUBMISSION TO BANK NEGARA MALAYSIA ON CONSUMER COMPLAINTS RELATED TO INSURANCE INDUSTRY PDF Print E-mail
Friday, 16 July 2021 16:33

MEDIA INVITATION: PRESS CONFERENCE ON MEMORANDUM SUBMISSION TO BANK NEGARA MALAYSIA ON CONSUMER COMPLAINTS RELATED TO INSURANCE INDUSTRY

Referring to the matter, Federation of Malaysia Consumers Associations (FOMCA) and National Consumer Complaints Centre will be submitting a Memorandum regarding CONSUMER COMPLAINTS RELATED TO INSURANCE INDUSTRY to Bank Negara Malaysia.

Almost every consumers has some form of insurance these days. Policies ranging from housing, motorised vehicles, endowment, medical, life and many more have been evolving in different packages. Consumers are also investing in medical policies due to the increase of communicable and non-communicable diseases that have been constantly evolving. Having a medical insurance policy will be an added advantage as policy holders can seek medical attention or treatment at a private hospitals.

Nevertheless, the insurance industry has been identified as more of a bane than a boon by a big group of consumers. Numerous complaints have been voiced and lodged at the National Consumer complaints Centre (NCCC) with regards to insurance. NCCC which is a partner of Federation of Malaysian Consumers Associations (FOMCA) has been and continues to be concerned on the transparency of the procedures of insurance industry when handling consumers concerns and issues. This memorandum aims to highlight the ongoing types of complaints received from consumers in regards to insurance and the recommendations for a well-functioning industry alongside with well-informed consumers.

The event shall be held as follows;

Date : 16th July 2021 (Friday)

Time : 3.00pm – 3.30pm

Venue : ZOOM Platform: https://us06web.zoom.us/j/87337488858?pwd=WlcrZnR2cCtRU3JEZVZBUDg3RE1QZz09

Received By : YBhg. Encik Abdul Rasheed Ghaffour, Deputy Governor of Bank Negara Malaysia.

 

With regards to the above, we would like to extend a kind invitation to your organization to send media representatives. For further information please contact MR BASKARAN SITHAMPARAM, +60 19-578 9396

 
Malaysians suffered RM2.23 billion losses from cyber-crime frauds PDF Print E-mail
Friday, 16 July 2021 16:32

FOMCA, WECAM, FAM: Celebrating World Water Day 2021 – Valuing WaterJuly 16, 2021 @ 1:27pm
KUALA LUMPUR: Malaysians suffered losses amounting to about RM2.23 billion from cyber-crime frauds since 2017.

According to statistics from the police, a total 67,552 cyber-crime cases were reported between 2017 till June 20 this year.

Of the total, e-commerce scams topped the chart with 23,011 cases, followed by illegal loans (21,008) and investment scams with 6,273 cases.
To put an end to this, the Commercial Crime Investigation Department (CCID) and Facebook Malaysia, in partnership with government agencies, industry players and consumer associations today launched a nationwide #TakNakScam awareness campaign.
The campaign is to educate the public on how to identify, check and report against the highly deceptive tactics employed by scammers.

Domestic Trade and Consumer Affairs Deputy Minister Datuk Rosol Wahid said that the development of eCommerce was akin to a double edged sword where frauds, scams and other cyber-crimes via digital platforms has increased in line with the success of digital businesses.

He said there were a total of 11,511 (33.2 per cent) complaints on online transactions recorded by the ministry last year, an increase compared to 5,416 (24.7 per cent) complaints received in 2019.

"The complaints have been steadily rising, and as of June 2021, it was one of the most frequent complaints received by the ministry at 45.2 per cent of total complaints.

"Both the government and private sectors must prepare to prevent an impending wave of fraud and if there are no drastic measures taken, the online scam will affect consumer confidence severely among others.

"A more holistic approach is needed to curb this issue that involves many cross agencies, and private sector collaborations," he said when delivering his keynote address via Zoom today.

He launched the #TakNakScam campaign in the presence of Bukit Aman CCID deputy director (Cyber-crimes and Multimedia investigation) Senior Assistant Commissioner Victor Sanjos, Facebook Malaysia interim country director Justin Murugaya, Bank Negara Malaysia Penang branch chief Hasjun Hashim and Federation of Malaysian Consumers Association (Fomca) deputy secretary Nur Asyikin Aminuddin.

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Rogue sellers prey on people’s reliance on e-shopping PDF Print E-mail
Friday, 09 July 2021 11:50

False Advertising Is Illegal And You Can Report It | TRPFriday, 09 Jul 2021

PETALING JAYA: As more Malaysians rely on e-commerce websites to purchase items during the movement control order, the number of complaints on such purchases has also risen.

When the MCO was first imposed in March last year, many complaints on related products like face masks and sanitisers were lodged, according to National Consumer Complaints Centre (NCCC) senior manager Baskaran Sithamparam.

“Many consumers relied on purchasing their daily needs from e-commerce sites.

“Rogue sellers (scammers) took advantage of the situation and started offering their products on social media such as Facebook, Instagram, Twitter and others.

“Many buyers were scammed and until today, we still receive complaints from consumers scammed by these sellers on social media,” he said when contacted yesterday.

The NCCC comes under the Federation of Malaysian Consumers Association (Fomca).

Baskaran said for legitimate e-commerce platforms, the type of complaints received mostly touched on their refund and return policy which were said to be tedious and time-consuming.

“Besides that, the vendors were also defended by the (online) selling platforms when consumers receive substandard products.

“There were also complaints on misleading information, defective products and products that were not as advertised,” he added.

However, he noted that recently, some issues regarding refunds and return policies from legitimate e-commerce platforms have improved slightly.

“Some consumers also face issues pertaining to e-wallet withdrawals,” he said, adding that consumers should be allowed to withdraw their own cash within a short time period.

On sellers on social media platforms, Baskaran said many scammers posed as sellers.

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Be wary of shopping via social media platforms - FOMCA PDF Print E-mail
Tuesday, 06 July 2021 09:24

Federation of Malaysians Consumers Associations05 JUL 2021 / 13:52 H.
FOMCA has been receiving numerous complaints from people who have been cheated when shopping via social media platforms such as Instagram, Facebook, TikTok, WeChat, WhatsApp, Telegram and others. Buying via social media platforms is unadvisable.

The government is encouraging Malaysians to venture into online businesses as the Covid-19 pandemic has impacted many people due to job loss, while some have been forced to take no-pay leave.

Although there are many sincere sellers who are selling their products such as food, clothes, art and craft, etc, to make ends meet, nevertheless, there are many who are using online platforms to cheat guileless consumers.

The largest number of reports were on non-delivery of goods purchased. Most of the complaints were regarding sellers not delivering the promised goods, sellers were missing, ghosting, etc.

Most of the transactions ranged from RM30 to RM9,000. Once payments were made, the scammers disappeared without a trace. Even the websites and phone numbers were no longer available.

Besides being victims of online scams, many consumers also claimed to be given the runaround and when it came to product delivery, with some products taking more than a month to arrive.

While many online sellers are legitimate, social media scammers use the internet to rip off unsuspecting shoppers. They will often ask consumers to wire transfer money upfront.

As more Malaysians turn to the internet to purchase goods and services, there is a pressing need for an improved legal framework to protect rights of consumers.

The Ministry of Domestic Trade and Consumer Affairs and Ministry of Communication and Multimedia Commission should regulate online sellers who use social media to sell their products and services.

Many of them are not registered with the Companies Commission of Malaysia. Consumers are urged not to trust any social media platform to do any transaction.

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Bank Negara digesa turun padang pantau syarikat insurans: Fomca PDF Print E-mail
Thursday, 01 July 2021 14:49

Federation of Malaysians Consumers Associations01 Julai 2021
SHAH ALAM - Gabungan Persatuan-Persatuan Pengguna Malaysia (Fomca) menggesa Bank Negara Malaysia (BNM) turun padang serta memantau syarikat insurans dan bengkel kenderaan bagi membanteras rasuah dalam industri insurans di Malaysia.

Presiden Fomca, Profesor Datuk Dr N Marimuthu berkata, langkah itu perlu dilakukan bagi memastikan industri berkenaan mematuhi undang-undang serta terma perkhidmatan mereka.

“BNM sebagai agensi yang memantau industri insurans harus turun padang dan memantau industri insurans supaya mereka akur serta mengikut peraturan-peraturan yang terkandung dalam terma dan syarat.

“Jika BNM menerima aduan daripada pengguna, mereka juga harus siasat secara mendalam supaya gejala rasuah dalam industri insurans kenderaan dapat dibanteras,” katanya ketika dihubungi Sinar Harian pada Rabu.

Beliau berkata demikian ketika diminta mengulas mengenai tindakan yang wajar diambil BNM bagi membanteras rasuah dalam industri insurans ketika ini.

Mengulas lanjut, Marimuthu berkata, BNM yang berfungsi sebagai pemantau bagi pihak kerajaan perlu mengambil tindakan tegas jika didapati wujud penyelewengan dalam industri tersebut.

Selain itu, katanya, BNM juga perlu merancang strategi yang sesuai untuk memantau bagi menjamin gejala rasuah dalam industri itu dapat ditangani sebaiknya.“Tindakan ini penting supaya hak pengguna lebih terjamin serta tidak akan mengambil masa lama untuk memproses tuntutan dan sebagainya,” katanya.

Sementara itu, beliau mencadangkan supaya syarikat insurans dikehendaki menetapkan tempoh tertentu bagi memberi penerangan kepada pelanggan tentang insurans yang mereka ambil.

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KPKT nafi tawar pembiayaan peribadi PDF Print E-mail
Thursday, 01 July 2021 14:48

Julai 1, 2021 @ 1:31pm
KUALA LUMPUR: Kementerian Perumahan dan Kerajaan Tempatan (KPKT) menafikan ada menawarkan pembiayaan peribadi 'Lestari Pinjaman Peribadi KPKT' kepada orang awam seperti yang tular di media sosial.

KPKT dalam satu kenyataan memaklumkan, semakan dibuat pihaknya mendapati laman media sosial terbabit diwujudkan oleh pihak tidak bertanggungjawab dan menyalahgunakan logo kementerian itu serta logo syarikat Kredit Komuniti berlesen yang didaftar di bawah Akta Pemberi Pinjaman Wang 1951 (Akta 400).

"KPKT menafikan pembabitan dan tawaran iklan terhadap pembiayaan peribadi 'Lestari Pinjaman Peribadi KPKT' kepada orang awam.

"KPKT memandang serius terhadap mana-mana pihak atau syarikat pemberi pinjaman wang berlesen atau tidak berlesen yang menyalahgunakan logo KPKT, logo Kredit Komuniti dan lesen pemberi pinjam wang untuk tujuan penipuan," menurut kenyataan itu.

Menurut kenyataan itu lagi, kementerian akan melakukan siasatan serta menyerahkan perkara terbabit kepada Jabatan Siasatan Jenayah Komersial (JSJK) Polis Diraja Malaysia (PDRM) untuk tindakan lanjut.

Selain itu, aduan turut dibuat kepada Suruhanjaya Komunikasi dan Multimedia Malaysia (SKMM).
"Orang awam dinasihatkan untuk lebih berhati-hati dalam menerima sebarang tawaran pinjaman yang diiklankan.

"Sekiranya terdapat sebarang keraguan berhubung iklan yang dipaparkan, orang awam dinasihatkan untuk terus menghubungi Bahagian Kawalan Kredit Komuniti (BKKK), KPKT ditalian 03-8891 4690/4668/4658/4708.

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Rosak RM8,000, tuntut sampai RM30,000 PDF Print E-mail
Thursday, 01 July 2021 14:46

Muka hadapan Sinar Harian30 Jun 2021
SHAH ALAM - Sebahagian penilai atau adjuster yang terlibat dalam sindiket penipuan tuntutan insurans berperanan membuat pengiraan tidak telus terhadap kenderaan yang terlibat dalam kemalangan jalan raya.

Melalui cara menaikkan tuntutan dengan melakukan penipuan atau tuntutan palsu, pembayaran balik kerugian menjadi berlipat kali ganda yang perlu dibayar syarikat insurans.

Hanya meletak status 'total lost' atau musnah sepenuhnya pada kenderaan yang terlibat dengan kemalangan, pihak penilai sudah boleh tersenyum ceria.

Apa tidaknya, mereka boleh mendapat keuntungan besar kerana tidak perlu menukar ganti kerosakan malah bahagian kenderaan yang masih elok boleh dijual dengan mudah.

Kisah benar ini dikongsi sendiri oleh seorang ejen insurans dikenali, Kamil yang mengetahui di sebalik ketirisan tuntutan insurans kemalangan yang berlaku di negara ini.

Katanya, kelebihan yang ada pada penilai insurans kemalangan kerana golongan ini boleh membuat runding harga dan mempunyai ramai kenalan dalam kalangan pemain industri.

“Sebagai contoh, jika berlaku satu-satu kemalangan, nilai harga kerosakan yang perlu dibaiki sebanyak RM8,000 tetapi mereka boleh menaikkan nilai kerosakan sehingga RM30,000,” katanya.

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