Community

New System by the Employee Provident Fund to Detect Fake Withdrawals

Print Friendly, PDF & Email

The Employee Provident Fund (EPF) has set up a system to detect those who have made fake withdrawals.

Apparently, this new system will be able to spot discrepancies, even after a withdrawal had been made.

Early this year, four people were convicted for fraudulent housing withdrawals.

Fake EPF withdrawals is a serious offense and those found guilty could be sentenced to a maximum of three years jail, or fined RM10,000, or both.

If you want to make a withdrawal, do it by dealing directly with an EPF officer. Do not accept any assistance from syndicates who offer to withdraw their EPF savings in return for an exorbitant fee.

Read More:

What are your thoughts on this article? Let us know by commenting below. No registration required.
 





"ExpatGo welcomes and encourages comments, input, and divergent opinions. However, we kindly request that you use suitable language in your comments, and refrain from any sort of personal attack, hate speech, or disparaging rhetoric. Comments not in line with this are subject to removal from the site. "


Comments

Click to comment

Most Popular

To Top