KUALA LUMPUR: The government is reviewing the need to amend laws to make telecommunications companies one of the parties accountable for online financial scams.
Prime Minister Datuk Seri Anwar Ibrahim said telecommunication companies have been informed about the matter.
"Bank Negara is currently coordinating, and telecommunications companies have been informed.
"(There are) proposals to amend digital powers to regulate social media, because through social media there are too many financial scams and others, so this is being monitored," he said at the Forum Ilmuwan Madani here today.
Anwar, who is also finance minister, chaired the forum, with panellists including Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, Maybank group president and chief executive officer Datuk Khairussaleh Ramli and Funding Societies group chief operating officer and CEO Wong Kah Meng.
Also present were Higher Education Minister Datuk Seri Dr Zambry Abdul Kadir and Chief Secretary to the Government Tan Sri Shamsul Azri Abu Bakar.
Anwar said the government was still reviewing the proposal due to concerns that some might perceive the proposed amendments as being too strict.
"This matter is under review. But we are concerned there may be reactions suggesting that the laws are too strict. But, we have to look at it," he said.
Anwar was responding to Khairussaleh's request for legislation that would hold telecommunications companies accountable for scams as well.
Earlier, Khairussaleh said Bank Negara had already tightened its guidelines for banks to ensure the financial institutions' responsibilities are clear.
He said for online scams, the issue does not involve banks alone, as scammers purchase mobile phones and telephone lines.
"In Singapore, for example, regulators and authorities have included telcos as part of the responsible parties and if you look at the phones, we already know who the registered owner is.
"If there are any doubts, can we not get the information straight from the telcos to know who is the owner? Unfortunately, we do not get such assistance.
"I am requesting this (to Anwar) and also to Bank Negara if we can get telecommunications companies to be made part of this as well," he said.
