Latest Financial Scam in Malaysia – TAC Scam Alert

16 November 2018

Recently, there have been increasing reports on a new phone scam tactic where scammers will try to fool victims into sharing the TAC (Transaction Authorization Code) number.

The modus operandi of this scam is as follows:-

  1. The scammer / hacker will login to your online banking account by random password generation.
  2. The victim will receive a TAC number SMS even though they did not  perform any online transaction.
  3. The scammer will contact the victim in a pretext of mistakenly registered the victim’s mobile number for online bank account.
  4. The scammer will come-up with all sorts of excuses / reasons to fool the victim into disclosing the TAC number.
  5. Once the victim shared the TAC number, the scammer is free to transfer money from the victim’s bank account.

If you encounter this scenario, please

  1. Do not share your TAC number to anyone over the phone.
  2. IGNORE all persuasive attempts, even if they threaten you or appeal to your sympathies.
  3. CHANGE your online bank account password immediately.
  4. If you receive TAC SMS without performing any online bank transaction, REPORT to the bank immediately.

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