Wednesday, July 12, 2017

More EPF Scam

Scammers are aggressively using social media to lure Employees Provident Fund (EPF) members into withdrawing savings earlier than they are eligible to. The syndicate targeted contributors who were desperate for quick cash, and in return asked for 30% to 60% in commission from the withdrawal amount.
It even blatantly used the EPF logo on its social media account in its bid to dupe the public.
“Many are in need of money. To those who have more than RM150,000 savings in their EPF account, please e-mail all your personal details to keluarankwsp@gmail.comFinancial freedom is in your hands. Apply with us and we guarantee that your application will be approved 100%,” read an advertisement posted on Facebook.
It was one of many such promotions detected by EPF recently. The syndicate claimed it would be able to provide the necessary certificates for housing, education, incapacitation and health, among others, to help members withdraw their savings from EPF before they reach eligibility.

It is believed that the syndicate was in cahoots with some private colleges and medical practitioners to forge documents for such purposes. The syndicate posted several false testimonials on its account to show that some members have been receiving monthly payments from the fund.
It also openly recruited agents in various states, including Perak, Penang, Kedah and Perlis, offering a high commission if they succeeded in getting clients.

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