Published: Friday January 25, 2013 MYT 1:31:00 PM

29 charged in court in 2012 over fraudulent EPF withdrawals

KUALA LUMPUR: The Employees Provident Fund (EPF) charged 29 contributors in court for fraudulent withdrawals last year.

EPF general manager for public relations Nik Affendi Jaafar said during the same period, 24 members were also found guilty by the courts for fraudulent withdrawals under housing and incapacitation, while 19 cases were currently pending court action.

"It is our priority at the EPF to ensure that our members' savings, which are intended for retirement purposes, continue to be safeguarded," he said Friday, warning members and other individuals involving in fraudulent EPF withdrawals.

He said, in the fourth quarter of last year, five members have been charged under Section 59 of the EPF Act 1991 for making unlawful housing withdrawals, and were fined a total of RM16,000 by the court.

Under the act, those found guilty of fraudulent withdrawal are liable to a maximum jail sentence of three years or a RM10,000 fine, or both.

Fraudulent withdrawals involve submission of false documents by a member to facilitate the approval of withdrawals from his or her own account.

He noted that the EPF had a comprehensive system that allowed the agency to detect any fraudulent withdrawals or unscrupulous fraudulent attempt even after the savings have been successfully withdrawn. - Bernama

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Published: Friday January 25, 2013 MYT 1:31:00 PM

29 charged in court in 2012 over fraudulent EPF withdrawals