PIDM Issues Warning About Scam

Kuala Lumpur, 14 June 2012: Perbadanan Insurans Deposit Malaysia (PIDM) reminds members of the public not to act on any request to transfer moneys out of their bank accounts or to make payment to PIDM for the purpose of paying fees for insurance protection provided by PIDM.

PIDM does not send requests or does it collect fees from the public, from depositors or from takaful and insurance policy owners for deposit insurance or takaful and insurance benefits  protection.  Deposit  insurance  and  takaful  and  insurance  benefits  protection  is provided by law and is automatic. No application or payment is required,” said Jean Pierre Sabourin, the Chief Executive Officer of PIDM.

He stressed that PIDM will never request payments of any kind from members of the public, depositors or policyholders. “We wish to ensure the public is informed about this scam so they can protect themselves against fraudsters”.

If you have received such a request, please contact PIDM’s information centre immediately at
1-800-88-1266 (toll free).

PIDM is a Government agency established under Akta Perbadanan Insurans Deposit Malaysia to administer the national deposit insurance system and the Takaful and insurance benefits protection system (TIPS).

Under the deposit insurance system, PIDM protects depositors, whether individuals or businesses, against the loss of their insured deposits in the unlikely event of a member bank failure. Under TIPS, PIDM protects owners of takaful certificates and insurance policies from the loss of their eligible takaful and insurance benefits, in the unlikely event of a failure of an insurer member.

For  more  information  on  deposit  insurance  and  TIPS  protection,  please  contact  PIDM’s
information centre at  1-800-88-1266 (toll free) or visit PIDM’s website at

For more information about this press release, kindly contact:
Syed Mohammed Idid, General Manager, Communications and Public Affairs Division
(Tel: 03-2173 7455; 012-3430848; Email:

Juli Murshidah, Manager, Communications and Public Affairs Division
(Tel: 03-2173 7465; Email:


Perbadanan  Insurans  Deposit  Malaysia  (PIDM)  administers  the  statutory  Deposit  Insurance System and the Takaful and Insurance Benefits Protection System (TIPS) in Malaysia.

For further information:
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