Only 26 Net banking fraud cases
21st Sep 2005 (The Star)

INTERNET banking is safe as the authorities have only detected 26 cases of fraud amounting to RM200,000 so far, said Deputy Finance Minister Tengku Putera Tengku Awang.

He said 14 commercial and five Islamic banks were currently offering Internet banking.

"The number of such transactions has increased by 38% to four million during the first quarter of 2005 from 2.9 million transactions during the first quarter of 2004," he told Razali Ibrahim (BN - Muar).

He said some 2.17 million people in the country used Internet banking.

Meanwhile, the Prime Minister's Department said the International Advisory Panel would cost the Government RM2.6mil over three years.

In a reply to M. Kula Segaran (DAP - Ipoh Barat), the department said the panel was set up to seek input on global socio-economic trends and development.

"The panel is scheduled to meet once a year. The total cost (including transportation, accommodation and logistics) for three years is RM2.6mil," it said.