KUALA LUMPUR: Public Bank Bhd will continue to step up its security measures against the diverse modus operandi of scams and frauds.

       One of the latest scams involved an illegal syndicate offering loans through social media platforms with low-interest rates, it said.

       Managing director and chief executive officer Tan Sri Tay Ah Lek said the bank is working closely with the authorities to counter such cases.

       “Customers are reminded to remain vigilant and to keep themselves updated on the various modus operandi of scams and frauds,” he said in a statement yesterday.

       Public Bank does not request sensitive banking information or upfront fees to be paid to personal accounts.

       The bank also does not offer guaranteed approval which can be appealing to certain borrowers.

       Customers are advised not to respond to loan advertisements through social media platforms.

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       Instead, they are advised to verify with legitimate financial institutions before proceeding with their applications, it said.

       Similarly, Public Bank has firmly implemented Bank Negara’s five key measures for combating financial scams and it encourages customers to practise responsible online banking behaviour.

       “Public Bank remains dedicated to staying at the forefront of security best practices and will continue to invest in banking security systems to provide customers with robust banking security while keeping customers informed,” Tay said.

       Customers can learn more about the different modus operandi of scams and frauds at https://www.pbebank.com/onlinesecurity/index.html. — Bernama