They said SemakMule, operated by the police, should not be the sole tool for the public to rely on in protecting themselves from confidence tricksters.

SemakMule is an online portal that allows the public to check bank accounts, phone numbers, and company names suspected of being linked to scams or fraud. It has become a key reference tool for Malaysians to avoid financial fraud.

Consumers’ Association of Penang president Mohideen Abdul Kader said banks should assign risk scores to accounts flagged by SemakMule and pay closer attention to those where funds are transferred out “within seconds” of being deposited.

Mohideen also advised consumers to check SemakMule before making payments – not after they have lost money.

“Responsibility rests with both the banks and customers,” he told FMT.

He was commenting after FMT reported that a lawyer had lost RM155,000 over 10 days after transferring money into bank accounts which she later found had been flagged several times on SemakMule.

In response, BNM said a SemakMule listing did not by itself prove wrongdoing or automatically lead to account restrictions.

Universiti Malaya banking law expert Sherin Kunhibava said SemakMule cannot be the only tool available to prevent scams, fraud and money laundering.

She said the police should ideally have a system in place to alert  banks whenever accounts are flagged on SemakMule.

“Once alerted, the bank should take relevant action or, at the very least, review the account before money is transferred into it,” she said.

Sherin advised customers to exercise more caution, but said banks cannot simply absolve themselves of liability.

“Banks must also bear some responsibility to prevent and mitigate scams, fraud and money laundering. They cannot be completely absolved of responsibility when there are warning signs,” she said.