PIDM alerts public on unauthorised use of its name, logo

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KUALA LUMPUR (Bernama): Perbadanan Insurans Deposit Malaysia (PIDM) has called the public to be wary of bogus marketing materials using its name and logo to promote investments or businesses.


PIDM chief executive officer Rafiz Azuan Abdullah, in a statement Tuesday (Sept 1), said the protection provided by PIDM to bank depositors, takaful certificate and insurance policy owners is automatic and free, as well as does not require sign-ups and payments.

“The public is also reminded that PIDM’s protection does not cover loans and other non-deposit products such as unit trusts, stocks and shares, and gold and silver related investment products.

“Please inform us if you are approached by anyone claiming to collect payment or fees for PIDM protection. This information can help us to alert members of the public to be more vigilant in dealing with matters of this nature,” he added.


He also urged the public to refer to consumer alert lists published by other financial regulators, and check on their respective websites to see if a bank account number or phone number has been reported as a scam to the police.

The statement stated that PIDM recently received queries from financial consumers who were shown marketing materials relating to investment or other schemes or products bearing the name and logo of PIDM.

Many were asked to make payment to activate PIDM’s protection in order to receive funds from a third party, usually in the form of investment returns from the schemes or services and products, it said. -BERNAMA.

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