Alarming Rise in Students Renting Out Bank Accounts to Online Scam Syndicates, Warns Home Minister
SEREMBAN: Malaysian authorities are increasingly concerned over a growing trend of university students renting out their personal bank accounts to online scam syndicates in exchange for quick cash, Home Minister Datuk Seri Saifuddin Nasution Ismail revealed on Tuesday.
According to Saifuddin, criminal groups are offering students between RM1,000 and RM2,000 per account, using these accounts as “mule accounts” to transfer and conceal money obtained through fraudulent activities.
Speaking after launching a Safe Schools Programme at Kolej Tuanku Muhriz Form Six in Seremban, the minister described the development as alarming, noting that online fraud cases continue to rise nationwide.
“Online scam syndicates are increasingly relying on mule accounts, including those belonging to university students. The funds deposited by victims are withdrawn through these accounts, and the account holders are then paid a commission,” he said.
Saifuddin stressed that the government has strengthened its legal framework to combat such crimes, including amendments to the Penal Code that criminalise the unauthorised possession, control, or transfer of another person’s payment instruments such as ATM cards, credit cards, and e-wallet accounts.
He emphasised that public awareness remains crucial in preventing young people from becoming involved in financial crimes.
“We will continue educating students and the public that allowing others to use their bank accounts is illegal and can lead to serious consequences,” he said.
The minister added that digital safety education should begin in schools, as cybercriminals constantly develop new methods to recruit individuals into scam operations. He noted that the establishment of the National Scam Response Centre (NSRC) 997 hotline reflects the government’s commitment to tackling online fraud.
Beyond cybercrime, Saifuddin said the Safe Schools Programme aims to ensure educational institutions remain free from bullying, gangsterism, sexual harassment, drug abuse, and other harmful activities.
“Our goal is to create a safe learning environment and empower students to become effective communicators in promoting positive values,” he said.
Earlier in the day, Saifuddin visited several schools in Negeri Sembilan, including SMKA Sheikh Haji Mohd Said, SMK Tunku Ampuan Durah, and Kolej Vokasional Ampangan.
He also highlighted the importance of protecting schools from extremist influences and dangerous ideologies, citing a recent case involving a teenage student in Kedah who was detained after authorities discovered extremist and violent content on his mobile phone.
“Although it was an isolated incident, we take such matters very seriously. Schools must remain free from extremist elements, hatred, and ideologies that threaten racial and religious harmony,” he said.
Saifuddin warned that the spread of hatred and extremism among young people could have serious consequences for social cohesion and national stability, underscoring the need for continued vigilance by educators, parents, and authorities.