Dear Valued Customers,

At CIMB we are committed to safeguard your financial security. We would like to alert you to a common cheque-related fraud involving misleading account balances.

How the Scam Works:

When a cheque is deposited, the full amount may reflect in your Account Balance immediately. However, this amount is in “Float”, meaning it’s still being processed and not yet available for use. Cheque clearance typically takes 1–2 working days (longer for outstation or foreign cheques).

Funds are only available once the cheque clears and appears in your “Available Balance”.

Example of Fraudulent Cheque transaction:

A fraudster may deposit a RM20,000 cheque into your account and pressure you to release goods quickly. Your “Account Balance” will show an increase of RM20,000 as the cheque is in float pending clearance.

Believing that the cheque has cleared, and without checking the “Available Balance” or “Float” amount, you may proceed to release the goods on the same day. However, on the next business day, the cheque may bounce due to insufficient funds in the issuer’s account. By then, the fraudster may have disappeared with the goods, leaving your business at a loss of RM20,000.

Therefore, you should always check the “Available Balance” after a cheque has cleared, or refer to the “Float” amount to verify cheques that are still pending clearance.

Important:

Never release goods or services until the cheque has cleared and the funds shown in your “Available Balance”. Fraudulent cheques can bounce, leaving you without payment.

For further information or assistance on this, please contact our Business Call Centre at 1300 888 828.

Thank you.

The Management

CIMB Bank Berhad & CIMB Islamic Bank Berhad