Crime analyst urges EPF contributors to keep account balances private

Employees Provident Fund (EPF) account balances should be kept private, said crime analyst Datuk Shahul Hamid Abdul Rahim.

Apparently a new phenomenon is emerging as contributors to the Employees Provident Fund (EPF) take to social media to share screenshots of their account balances.

He claimed that he didn’t understand why people would reveal their savings account balance. 

“It’s extremely dangerous and can invite scammers or robbers to commit crimes. 

“Why are they so bold to expose this information? It should remain private. What’s their real intention, to show off how much money they have? 

“By sharing this information, they are actually creating opportunities for scammers and robbers to track them down. We need to alert the public that what they are doing is dangerous and wrong,” he said, reported The Scoop.

Shahul urged the Malaysian Communications and Multimedia Commission (MCMC) to take action regarding a Facebook account that encourages sharing EPF account balances.

He said that closing such accounts is crucial in safeguarding EPF contributors from fraud and claimed MCMC has the power to shut down the account on the grounds that it poses a danger to those sharing screenshots. 

In a recent Instagram post, EPF cautioned contributors against disclosing or sharing screenshots of their account balances on social media platforms. EPF highlighted the potential for severe repercussions, including susceptibility to threats from scammers.

Former inspector-general of police Tan Sri Musa Hassan, strongly advised all EPF contributors to safeguard their personal information and refrain from sharing it publicly.