E-Wallet

What is an e-wallet?

An e-wallet is a phone app that holds money electronically. You can pay, receive and transfer money from it. You top it up from a bank account or card, then spend or send from the balance. Think of it as a digital purse.

E-wallets sit alongside the banking system and do not replace it. The money is still real money, so the same rules and risks about suspicious funds apply.

Can an e-wallet be frozen or flagged?

Some people think an e-wallet is separate from banks and safe from freezes. That is not correct. If a wallet receives money linked to a scam, the balance can be blocked and the wallet suspended.

Under the CPC amendment, a police officer of Sergeant rank or above can block transactions at once on suspicion of a link to unlawful activity. ^[f2] Your phone number can also appear on the PDRM Semak Mule portal, which covers phone numbers as well as accounts. ^[f1]

What should you do if your wallet is caught up in a case?

Ask the provider in writing why the wallet was suspended and what it needs from you to review it. Keep your full top-up and transaction history. It shows where the money came from and where it went.

If your wallet or linked phone number is flagged, write down the details. For a complaint about the banking side, you can call BNMLINK on 1-300-88-5465. ^[f3] If a criminal investigation is involved, a lawyer can explain the legal basis and your next step.

Sources

1. PDRM Semak Mule portal (https://semakmule.rmp.gov.my/)
2. CPC (Amendment) Act 2024, Section 116D (https://www.parlimen.gov.my/)
3. Bank Negara Malaysia, BNMLINK (https://www.bnm.gov.my/)