‘There are also many losses. Are users of the Red Squid apps ok? ’
CIMB Group Holdings Bhd saw a credit loss of RM280.9 million or $ 91 million in 2021.
The loss was due to processing hassles that resulted in extra money being inadvertently put into thousands of customer accounts.
According to the group's Chief Executive Officer (CEO), Abdul Rahman Ahmad, the service provider has successfully detected the problem, related to remittance services and is taking steps to recover duplicate transactions from their customers.
As a result, the Governor of Bank Negara Malaysia (BNM), Nor Shamsiah Mohd Yunus told CIMB to give the appropriate option to return the money.
He continued, if there is any evidence of violation of the law by CIMB, BNM will take appropriate action against the supervisor.
As a recap, CIMB faced technical problems when it faced research on digital infrastructure issues.
It also affected about 790 Oversea-Chinese Banking Corp (OCBC) customers in Singapore who suffered losses of SGD13.7 million or RM42.37 million and thousands of DBS Holdings Ltd customers had difficulty logging into its online and mobile platforms. .
Meanwhile, CIMB reported net income of RM4.3 billion in 2021, the highest level since 2019.
