Cited from thestaronline

KUALA LUMPUR: The Employees Provident Fund (EPF) has refuted allegations about the transfer of large funds and bonds out of the retirement fund through fraudulent means.

It said on Wednesday the alleged letters and proposals are forged documents.

“As such, the proposal in question was never presented to the EPF and was never under consideration,” it said.

The EPF reassured its members that it has a strong and robust governance framework in place to prevent fraud on its members’ funds.

“The EPF reiterates there has been no transfer of any funds nor bonds as alleged. Arising from the recent annual audit conducted by Jabatan Audit Negara, we can confirm that the bonds in question remain in the ownership of the EPF, via confirmation received from PayNet in January 2018,” it said.

It pointed out that PayNet is an approved payment system operator regulated by Bank Negara Malaysia, as well as being a subsidiary of Bank Negara.

“We further stress that the purported transactions never happened, and both RHB Bank and HSBC Bank have issued statements refuting the allegations,” it said.

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