Consumer Protection for Online Banking Scams via E-Mail in Malaysia
DOI:
https://doi.org/10.32890/uumjls2012.3.1Keywords:
Online banking scam, email scam, phishing websiteAbstract
The new advancement in technology both hard and soft is creating new opportunities for cyber criminals. It is an effective tool for going against the law. In the economic sector, the number of Malaysians opting for online banking to do transaction is increasing. There are 9.8 million online banking account holders in Malaysia. However, cases of online banking scams in Malaysia have been increasing since such first case was registered in 2005. Statistics from Financial Mediation Bureau showed that the number of cases had increased. Therefore, the objectives of this paper are to identify cyber scams via email in online banking business model and to examine consumer protection of online banking scams in Malaysia.
Keywords: Online banking scam, email scam, phishing website
References
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Banking and Financial Institutions Act (BAFIA) 1989. Computer Crimes Act 1997 (Act 563) Consumer Protection Act 1999 (Act 599) Digital Signature Act 1997 (Act 562) E-commerce Act 2006 Electronic Commercial Act 2006
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