The Ministry of Finance has given out a stern warning to those who might misuse the new eMadani payout and go against its intended use. Specifically, the government will take action against any parties reported to attempt to cash-out or do peer-to-peer transfers, which are against the terms and conditions of the programme.
To recap, 10 million B40 and M40 Malaysians earning less than RM100,000 annually are eligible to claim a RM100 credit through select e-wallets starting from today. As with previous e-wallet government handouts, this credit can only be used through physical retail purchases, with transfers and online transactions banned.
SIARAN MEDIA BERKENAAN ELAK JADI MANGSA PENIPUAN 'SCAMMER' YANG MENAWARKAN PERKHIDMATAN 'CASH-OUT' BAGI KREDIT eMADANI pic.twitter.com/gbOeXFr1sJ
— Ministry of Finance🇲🇾 (@MOFmalaysia) December 4, 2023
With the previous programmes, there have been cases where parties would offer users a cash-out service whereby the credit recipients would transfer the credit to the seller and they would then transfer back the money in cash, but there have been several reported instances where this service was a complete scam, leading to significant losses.
To curb this sort of scam and to discourage users from using the credit in any way other than the intended purpose of stimulating the economy, the government will be banning accounts found to be involved in attempts to cash-out the credit, as well as stripping their “credit rights”, although it’s unclear what exactly the latter entails. The government says that it will not be responsible for any credit loss due to transfer or cash-out attempts, meaning that your account might get banned even if you’re a scam victim.
The eMadani credit can be claimed from today until 20 February 2024, with the credit expiring after 29 February 2024. Eligible recipients can choose between one of four e-wallets to redeem it from, namely ShopeePay, MAE, Setel, and Touch ‘n Go eWallet.
(Source: MOF)
