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Showing posts sorted by date for query Hong KONG. Sort by relevance Show all posts

Sunday, December 15, 2024

Jet-set thieves give the slip

 

Caught in the act: A suspect being detained on a local commercial flight for theft recently. — Courtesy photograph


Mid-air heists see cash, jewellery stolen from unwary passengers

PETALING JAYA: Commercial airlines are becoming a hot spot for jet-setting thieves who orchestrate mid-air heists on unsuspecting passengers.

Two weeks ago, two Chinese nationals were fined a total of RM5,700 by the Balik Pulau Magistrates’ Court for stealing over RM5,500 from two Malaysians during a flight from Penang to Kuala Lumpur.

This incident is the latest in a series of thefts that have occurred onboard commercial airlines recently.

On Oct 26 this year, The Star reported the arrest of a 49-year-old man from mainland China on suspicion of stealing more than HK$4,300 (RM2,430) from two passengers during a flight from Malaysia to Hong Kong.

ALSO READ: 267 inflight missing item reports lodged at KLIA since 2022 

Recently, during a flight from Penang to Kuala Lumpur, a male suspect was caught red-handed stealing RM3,000 cash belonging to another passenger.

Apprehended on board, the perpetrator was handed over to the authorities upon landing.

Most of these thefts have gone unreported, as most victims do not realise they have been robbed until long after they have disembarked the aircraft.

On Dec 4, the Hong Kong security chief revealed that thefts on board aircraft bound for Hong Kong almost doubled this year.

According to government data, a total of 169 reports were lodged in the first 10 months of 2024 against 92 recorded in the whole of last year.

What was stolen was mostly cash in various currencies, expensive jewellery, luxury watches and credit cards totalling about HK$4.32mil (RM2.46mil).

A commercial pilot told The Star that these thefts happened quite frequently and were often orchestrated by syndicates.

“These thefts normally occur on Vietnam, Bangkok and China routes, both inbound and outbound,” he said.

“The spate or frequency of these thefts also increases during busy travel periods such as the holiday or festive seasons.”

According to the pilot, the thieves would operate as a team of several individuals, depending on the flight and size of the aircraft.

He said catching them in the act could be difficult, as they would have a game plan.

“First, they would be travelling as separate individuals,” he said.

CLICK TO ENLARGECLICK TO ENLARGE

“They would also scout potential victims at the boarding gate prior to the flight.”

The crime would normally be perpetrated when the plane was at cruising altitude and once the cabin lights were dimmed for sleeping.

One of the individuals would attempt to retrieve their bag from the overhead compartment and in the process rummage through the belongings of the targeted victim.

Upon making off with the valuables, the person would pass the stolen items to their accomplice at drop-off points such as the aircraft lavatory.

“Because of this, it is difficult to apprehend these criminals,” said the pilot.

“If caught red-handed, they would simply admit that they had mistakenly taken the wrong bag and apologise. If they suspected that the crew had found out that a theft had taken place, they would toss the item away, making it look like the victim had misplaced it.

“In the event that a theft had been confirmed and the suspects were apprehended, the pilot would transmit a message through ACARS (Aircraft Communications Addressing and Reporting System) to the ground station for a security team to investigate and apprehend the suspects.”

For those who have fallen victim to these thefts, the airlines are not considered responsible for the missing valuables or personal belongings.

Those who had travel insurance would also have to provide a police report and a detailed account from the airline to prove and corroborate that the item(s) were indeed stolen during the flight, said an insurance expert.

“Insurers will require solid proof to accept a claim, failing which it will be construed that the loss of the items is due to negligence,” he added.

“If the claim is accepted, the settlement or quantum for the lost items will be based on the policy and coverage.”

Some airlines have already begun taking steps to limit the incidence of in-flight thefts.

This includes making frequent announcements to remind passengers to be mindful of their personal belongings and not to change seats during the flight.

On some flights, cabin lights will be dimmed instead of being turned off to reduce opportunities for theft.

If there are suspected individuals identified by the security team on the ground, a memo will be issued to the crew.

The ground staff will also be instructed to assign these individuals to window seats instead of the aisle seat to restrict their movement.

If there are suspicions that these criminals are on board, the cabin crew will also be instructed to be alert and step up patrols during the flight.

Related stories:

267 inflight missing item reports lodged at KLIA since 2022

Flight theft: Reports of missing items, including cash, credit cards, and mobile phones, have surged on flights at KLIA say the police.

Man jailed for stealing S$120k from passenger in one of the worst theft cases on flight

Flights to Hong Kong see thefts nearly double from 2023

Court fines two Chinese businessmen for stealing money from airline passengers

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Be a smart tourist

Wednesday, November 20, 2024

Trapped in cycle of scams, victims being retargeted over 2.5 times on average

 Low digital literacy blamed for Malaysia's high victamisation rates

Stay vigilant: Victims not learning from experience is among the factors contributing to them being revictimised.

KUALA LUMPUR: Malaysia has the highest rate of online fraud revictimisation in Asia, with victims being retargeted over 2.5 times on average, according to the Asia Scam Report 2024 issued by the Global Anti-Scam Alliance.

CelcomDigi head of sustainability Philip Ling said the report also revealed that Hong Kong and Thailand ranked second and third respectively.

“There are two concerns, namely victims being repeatedly targeted by scammers and their low ability to differentiate artificial intelligence scams.

“The victims don’t learn from experience. It is concerning when they fall victim again because they lack the ability to differentiate between sources ... when contacted by authorities, they often cannot tell whether the caller is real or fake,” he said, Bernama reported.

He said this to reporters after attending the Anti-Scam Engagement Session, “It’s a Matter of When”, at the Tun Abdul Razak Broadcasting and Information Institute here, which saw the participation of over 100 staff from agencies under the Communications Ministry, including the Information Department, the Malaysian National News Agency (Bernama) and RTM.

Ling said the event on Monday provided participants with an opportunity to share information and advocate against crime in a manner that is clearer and easier for the public to understand.

“We need to know that scam victims do not get an adequate support system from the people around them.

“They feel scared, ashamed and unsure of where to seek help,” he said.

One of the participants, Abdul Wahid Abdul Mutallib from Bernama, said that such programmes should be expanded, particularly to the community, as they provide valuable new information and knowledge.

“This kind of programme is very good because it can raise awareness among the public, especially as we are in the age of AI,” he said.

Echoing similar sentiments, another participant Mohd Salehuddin Mohd Kidin expressed hope that more programmes focused on online fraud awareness would be organised at the grassroots level.

“Through courses like this, participants are given exposure on how to ensure that all information is accurate before making any online transaction,” he said.

Earlier, Communications Minister Fahmi Fadzil said online fraud is one of the government’s main focuses in addressing the rise in cybercrime cases, including online gambling, cyberbullying and sexual crimes against children.

In response to this, the government has decided to implement a regulatory or licensing framework for social media and internet messaging services, effective Jan 1 next year.

Source link


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Sunday, November 17, 2024

Govt intervention won’t fix housing prices

 

Every adult should sensibly secure a home as everyone needs a roof over their head ■ Residential properties in prime locations undergoing ‘shrinkflation’, with sustained higher prices despite new units getting smaller

Greyscale low angle view of a highrise building with glass windows under sunlight


THE indirect discussion on multiple-home ownership between Housing and Local Government Minister Nga Kor Ming and former Cabinet member Khairy Jamaluddin over various media channels has ignited interest among Malaysians.

The latter wondered on his podcast Keluar Sekejap last week if limiting property purchases could help alleviate the crisis in affordable housing by addressing the surplus of unsold high-end homes that contribute to inflated prices.

Nga countered by dismissing the proposal, arguing it is not the government’s role to restrict investments in the real estate sector, which has proven to be an effective hedge against inflation and a means of wealth preservation.

He cautioned that such restrictions could harm the property sector and negatively impact some 200 industries connected to real estate, including contracting, plumbing, banking and legal services.

From a foreign perspective, if one were to speak to ordinary Hong Kong residents, it would come as no surprise to find that opinions are mixed on tycoon Li Ka-shing, the billionaire founder of CK Hutchison Holdings Ltd.

Although Li – whose name is synonymous with wealth in the former British colony – is a highly regarded businessperson, many in Hong Kong put the blame for the city’s exorbitant property prices on ultra-rich individuals like him, who made their fortunes by flipping properties in the densely populated region.

In fact, there is a local saying that goes:

“The houses in Hong

Kong are not meant to be inhabited.

They are meant to be ‘fried’ (slang for flipping at a higher price in Cantonese).”

This, of course, is in addition to the fact that most

Hong Kong residents live in high-rise units that can feel claustrophobic.

This may explain why many of them enjoy being out on the streets as long as possible, even into the early hours of the morning.

Back home, if one were to drive around our own cities of Kuala Lumpur, Petaling Jaya, Georgetown and Johor Baru, one can’t help but notice the significant number of high-rise residential buildings under construction.

This prompts one to ask a pressing question: Who is actually buying these units?

In addition, it is reasonable to wonder if property investment is truly so lucrative, what will happen to the prices of these high-rise accommodations in the future, especially in view of the government’s goal to encourage homeownership among the youth?

In fact, just a couple of months ago, before Khairy’s comments on his podcast, this writer – who has never advocated for socialist practices in any way – had wondered out loud to his spouse whether the government might need to step in and limit the “frying” of residential property prices.

So, is Malaysia heading in the same direction as Hong Kong?

At first glance, maybe not, but a deeper look may reveal a different story.

Reports in The Star earlier this week indicated that Malaysian residential properties in prime locations are undergoing “shrinkflation”, characterised by a sustained increase in property prices even though new units are getting smaller.

This trend places a heavier burden on buyers, especially on young Malaysians intending to buy their first home.

However, property prices and social responsibilities aside, it is easy to understand why investing in real estate is so attractive: for one, it is more tangible than stocks, bonds or mutual funds, and the thrill of monthly rental collection appeals to those seeking regular returns.

On the other hand, equities and bonds are much easier to liquidate, and there is significantly less legwork involved as members of the public do not normally run the companies whose shares they own, as opposed to property owners who bear the cost of maintaining their assets.

Furthermore, for those interested in steady income, there are blue-chip banking stocks that offer healthy dividend yields, often with lower upfront costs compared to real estate.

Seasoned investor Ian Yoong, whose portfolio regularly achieves a compounded annual growth rate of 23%, believes that Malaysian property prices have increased at a healthy rate over the past few decades.

He points out that restricting residential-property ownership could suppress prices, ultimately discouraging investment in the sector.

“Malaysia’s property market overhang improved slightly in the first half of 2024 (1H24) compared with 2H23, with the total number of unsold units falling by 12.3% and their aggregate value declining by 19.5%.

“The current property overhang itself will cap the rise of residential property prices over the next couple of years.

“The government should therefore not impose any limits on home ownership,” he tells Starbiz 7.

Yoong emphasises that the current property overhang will naturally limit the rise of residential property prices in the coming years.

He advises the government to refrain from imposing any restrictions on homeownership, as doing so could hinder market growth.

A cursory check supports Yoong’s claim, revealing that high-rise residential property prices in many areas of Kuala Lumpur and Petaling Jaya have stagnated compared with 15 to 20 years ago, when the property market was experiencing a boom.

This is despite the completion of both Mass Rapid Transit (MRT) lines 1 and 2 in recent years, which many investors felt could have improved prices, particularly in neighbourhoods near the MRT stations.

While it is understandable that Yoong would prefer to invest in equities given his success and the comparatively less field work, he strongly advises every Malaysian adult to obtain a home.

“Save for a down payment and apply for a bank loan to buy a residential property that is within your means. It matters little whether it is a lowcost flat or a terrace house.

“While this might not be the best investment strategy, it is a sensible move. Every adult needs a roof over their head,” he says.

Yoong says that the monthly loan repayment acts as a form of forced savings.

He stressed that in reality, not everyone is meant to be a successful investor, but almost everyone can be a property owner.

“Once home ownership is out of the way, one can then focus on investing surplus funds in shares, properties, cryptocurrencies and the like,” he advises.

The Star - StarBiz
KEITH HIEW keith.hsk@thestar.com.my

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Owning a home beyond reach of most millennials (Poll Inside)

Friday, October 11, 2024

Red flag in credit card fraud

 


With huge profits, it is time for banks and telcos to invest more in improving their infrastructure against rising criminal activities.

IT came as a huge shock to my colleague when she was saddled with a RM38,000 credit card bill – five transactions that took place in Brazil within minutes of each other, a country she had never visited in her life.

The purported expense came when she was travelling overseas. She only discovered her credit card was missing three months after the incident when the bank asked if she had her card with her.

“I was with another colleague in Hong Kong at the time. He received the same SMS alert from his bank. We both called our banks at the same time. But the difference was his bank stopped the transaction because they could not verify it,” she said.

Despite showing proof that she was in Hong Kong at the time of the transaction, her bank could not provide her with the details of the case as they did not ask the merchant for it. The minute they found out the transactions were physical, they washed off their hands and sent her a letter which indicated she was liable for the RM38,000.

“They even tried to charge a currency conversion fee, late fee and interest on the disputed transactions. Finally, after days of frustrating exchanges with the bank, I reported the case to Bank Negara, and only now the bank is reaching out to the merchant to investigate,” my colleague told me.

Sadly, her quandary is not something new. Credit card fraud is on the rise in Malaysia. But financial institutions in general argue that if a card is lost or stolen, it is still the responsibility of the cardholder if any transactions take place. But shouldn’t the onus be on the bank to at least perform due diligence on red flag transactions?

A year ago, banks under the ambit of the Association of Banks in Malaysia (ABM) and Associa-tion of Islamic Banking and Financial Institutions Malaysia (AIBIM) launched their refreshed #JanganKenaScam awareness campaign.

At that time, the associations claimed that the campaign underscored the banking industry’s commitment to combating financial scams and preventing fraudulent banking activities.

They have since implemented several security measures to fight scams, such as migrating from the SMS One-Time-Password (OTP), tightening their fraud detection rules, imposing a cooling-off period for first-time online banking registrations, restricting secure authentications to a single device, and setting up dedicated fraud hotlines for customers.

According to the two associations, these measures have successfully prevented fraudulent transactions worth RM351mil.

But combating fraudsters is a constant battle, with the banks themselves admitting that there is an upward trend and huge losses due to credit card fraud.

Over the years, The Star has published numerous articles highlighting scams and scammers and credit card fraud.

In fact, exactly 10 years ago, we published a front-page article on fraudulent credit and debit card transactions.

We wrote: “Many consumers are questioning the assurance banks give on Internet security after discovering that their credit and debit cards have been used in unauthorised online transactions.”

Ten years later, nothing seems to have changed. If anything, things have got worse.

A study by Ipsos last December revealed that an overwhelming majority of Malaysians have encountered scams, with a distressing number reporting substantial financial harm. The study indicated that scams are exploiting the digital realm, signalling a shift in criminal tactics that jeopardises our collective economic health.

Despite the additional security measures, the current national scam awareness campaign throws the entire burden of fighting scams on poor defenceless Malaysians, many of whom are retired, in their senior age, and somewhat gullible.

This is in stark contrast to what our neighbour down south has done – Singapore is holding the telcos and banks responsible for customers who have fallen prey to scams.

The Monetary Authority of Singapore (MAS) says financial institutions and telcos will have to compensate their customers who have been cheated if they are found to have breached their responsibilities.

These responsibilities include failure by banks to send outgoing transaction alerts to consumers and telcos failing to implement a scam filter for SMSes.

The Singapore authorities acknowledged that “responsibility for preventing scams should not lie solely with consumers but also with industry stakeholders”, such as the financial institutions and telcos.

The shared responsibility should also apply here because banks and telcos, as the primary gatekeepers, must do more to protect Malaysians.

Financial institutions play a critical role as a gatekeeper against the outflow of monies due to scams, while telcos play a supporting role as infrastructure providers for SMSes.

They must incorporate more circuit breakers and track the enormity of the scams that are taking place. Tracking is not good enough; they must also act on it.

With Budget 2025 to be tabled next week, I hope our reform-minded Finance Minister introduces stronger and better measures to help Malaysians and demand more from banks and telcos.

Banks and telcos have amazing balance sheets with huge profits. It is time that they invest more to improve the infrastructure against scamming and fraud.

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