How to Complain to BNM About Your Bank

What can BNM do, and what can it not do?

Bank Negara Malaysia (BNM) is the central bank and regulates how banks treat their customers. In a complaint, it cannot lift a freeze that another authority ordered.

A freeze order comes from a law enforcement authority, such as the police or the Public Prosecutor, or from a court. ^[f4] BNM cannot overrule these orders. Lifting or varying a freeze is done through the authority that ordered it or through the courts, depending on the law used.

What BNM can do is hold your bank to account for how it handled the freeze. If the bank did not inform you properly, refused to give details or mishandled the process, BNM can look into it. For who freezes accounts and why, see our guide to understanding account freezes.

When is a BNM complaint the right step?

Complain to BNM when the problem is how the bank behaved, not the freeze itself. Common examples:

• The bank refused to tell you which authority ordered the freeze.
• The bank did not give you a reference number or contact details for the investigating authority.
• The bank took too long to carry out a variation order.
• Bank staff gave you wrong information about your rights or the freeze process.

A BNM complaint also fits when the bank restricted your account under its own internal policies, without any formal freeze order. BNM can then check whether the restriction was justified.

If you are not sure whether your problem is the bank’s conduct or the freeze order, a lawyer who handles AMLA matters can tell you.

How to file through BNMLINK

The BNMLINK portal at bnmlink.bnm.gov.my is one way to complain. ^[f1] You need your IC number, the bank’s name, your account number and a description of what happened.

Be clear and specific. Say what you asked the bank to do, what it did or failed to do, and what you want now. Attach copies of your emails, letters and chat screenshots with the bank.

You will get a reference number once you file. Keep it, because you need it to track your complaint and to take it further.

How to complain by phone

If you would rather speak to someone, call BNMLINK on 1-300-88-5465. ^[f2] The line is open during office hours.

The officer can explain the process, record your complaint over the phone and tell you your options. Have your account details and a short summary of the problem ready before you call.

Ask for a reference number during the call.

What happens after you file?

BNM passes your complaint to the bank and tells it to investigate and reply. ^[f5]

The reply comes back through BNM, which reviews it and sends it on to you. If the reply settles your complaint, the case is closed.

If the reply does not deal with your problem, BNM may mediate between you and the bank. This can mean more letters or a meeting. If your bank has already called you about the freeze, our guide on bank calls about freezes may help.

Taking it to the ombudsman (FMOS)

If BNM’s mediation does not settle the dispute, you can take it to the Financial Markets Ombudsman Service (FMOS). ^[f3] FMOS is an independent body for disputes between consumers and financial institutions.

You can use FMOS yourself. It reviews your case, looks at evidence from both sides, and can make a decision on the dispute. ^[f3] It gives you a formal way to settle the dispute when talking to the bank has failed.

BNM complaint or legal action?

The two do different jobs. Depending on your situation, you may need one or both.

A BNM complaint deals with how the bank behaved: poor communication, wrong procedure, delays or unfair restrictions. You do not need a lawyer to complain.

Legal action deals with the freeze itself: challenging it, applying in writing to the enforcement agency for a variation under AMLA section 44A, or defending criminal charges. For this you need a lawyer.

You can complain to BNM about the bank while a lawyer works on the freeze. Knowing your rights as an account holder helps you decide which route to take.

Sources

1. Bank Negara Malaysia, BNMLINK Consumer Complaint Portal (bnmlink.bnm.gov.my)
2. Bank Negara Malaysia, BNMLINK Contact Centre (1-300-88-5465)
3. Financial Markets Ombudsman Service (FMOS), Consumer Guide (www.fmos.org.my)
4. Bank Negara Malaysia, Guidelines on Complaint Handling
5. Financial Services Act 2013, consumer protection provisions