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Dewan Negara president Tan Sri Dr Rais Yatim said TH must be completely responsible over the loss of money and the compensation aspect should be managed through the banking insurance policy.
“The committee has decided that it is the bank’s main responsibility for depositors not to lose their confidence in them,” he said in a statement today.
“The bank responsible must determine the method and amount of damages if the bank’s supervision was breached," he said.
Rais said TH needs to improve the media outreach of the online fraud awareness campaign to the public.
“TH and intermediary banks must improve their security aspects of online banking," he said, adding that TH needs to prepare a report on the matter.