PETALING JAYA, May 17 (Sin Chew Daily) — A female accountant performs an online transfer to another account in a different bank but the sum of RM50,000 ends up in the account of an unregistered company.

She managed to trace the fund and retrieve her money.

Madam Xie, 47, shared her experience of tracing the missing fund with Sin Chew Daily to alert others while performing online transactions.

She performed an online transaction to transfer RM50,000 to another account at a different bank at 6am on April 22. She later received an e-mail from the bank that the transaction was successful.

"When I checked the bank account, the amount transferred earlier was not deposited into that account. I checked the e-mail again and discovered that the sum had been transferred to another company instead. I went to the bank to request to stop the transaction," she said.

The bank staff told her she would need to seek assistance from the headquarters of the bank and also Bank Negara. The investigation would take between 30 and 60 days.

Upon checking with the Companies Commission of Malaysia (SSM), she discovered that the company was not registered and did not have an address.

"I was curious why the bank would approve the transfer to an unregistered company. I suspected that it was an insider's job," she said.

Madam Xie lodged a police report on April 26 and informed the Malaysia Anti-Corruption Commission (MACC).

Subsequently, the bank refunded the sum of RM50,000 to her.

"I share my experience to remind members of the public not to perform online transfers at 6am, or before the operating hours of banks. This can be dangerous. One should check the transaction details and lodge a police report to prevent the funds from being stolen," she said.