Agrobank Loss Probe Left to Authorities, Says Agriculture Minister

SHAH ALAM: The Ministry of Agriculture and Food Security (KPKM) has handed over the investigation into Bank Pertanian Malaysia Bhd (Agrobank)’s reported losses of more than RM200 million linked to online fraud to the relevant authorities.

Agriculture and Food Security Minister Datuk Seri Mohamad Sabu said the matter falls entirely under the jurisdiction of the Royal Malaysia Police (PDRM) and Bank Negara Malaysia (BNM).

“We leave it 100 per cent to the authorities to conduct their investigation. I am unable to provide further comment,” he said when met after officiating the Madani Agro Excellence Awards ceremony here on Thursday.

Media reports on Wednesday quoted Home Minister Datuk Seri Saifuddin Nasution Ismail as confirming in a written parliamentary reply that Agrobank suffered losses amounting to RM203.8 million due to online fraud, which was reported in November last year.

Saifuddin said a total of 47 individuals were arrested in connection with the case, with three charged under Section 424C(1) of the Penal Code for offenses related to the use of “mule accounts.”

He added that while details of the fraud were not disclosed, the case did not involve any customer accounts of the financial institution.

Authorities are continuing investigations into the case, which is among the largest reported online fraud incidents involving a Malaysian financial institution.