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THE EDGE REPORTS AGROBANK LOST RM203.82 MILLION. WHERE WERE THE PAYMENT CONTROLS? The Edge reports, citing Agrobank’s court affidavit, that 2,973 unauthorised transactions worth RM203.82 million occurred between 28 October & 3 November 2025. Agrobank says unauthorised instructions passed through its ACI connector to PayNet, causing money from the bank’s settlement account to be credited to accounts at other financial institutions. In plain language, payment instructions Agrobank says it never approved travelled through its electronic connection to the payment network. As a former banker with a forensic audit background, I want to know how those instructions got there, how they passed validation, & why the transfers continued. The activity reportedly ran from Tuesday, 28 October, through Monday, 3 November, including the weekend of 1–2 November. Agrobank says its digital banking department was alerted on Monday after a weekend net outflow of more than RM85 million was reported. But the total loss was RM203.82 million. How much moved on each day, including the working days before that weekend? The RM85 million is a weekend net outflow, so we cannot simply subtract it from the total & assert an exact earlier loss. Publish the daily breakdown, the first alert, who received it, & when the transfers were stopped. The Edge also reports that Agrobank’s host-system records did not match PayNet’s transaction report, & that some account numbers in the instructions did not exist in Agrobank’s banking database. When did those differences first appear? Were the records reconciled daily? Which payment checks, limits & alerts applied to the ACI connector? Agrobank says customer funds & data were not affected. That is welcome reassurance for depositors. It does not explain the loss of the bank’s own funds. Consider the scale. Agrobank’s audited 2024 profit before tax & zakat was RM188.78 million- its net profit was RM136.87 million. The reported RM203.82 million fraud loss exceeds even that full year’s pre-tax profit. How much was charged against 2025 earnings? How much has been recovered or covered by insurance? Who bears the shortfall? Police & BNM have investigated, and Agrobank has said it strengthened monitoring and controls. The public needs the findings: where the unauthorised instructions entered the process, whether credentials or systems were compromised, what controls failed, & whether anyone inside assisted or failed to act. These are questions for the evidence to settle, not accusations against employees. Forty-seven people have reportedly been arrested, with three charged over mule-account offences. Pursuing the receiving accounts matters. It does not explain how instructions were sent through Agrobank’s payment connection. On 21 September, a court ordered RM1.505 million returned from 60 accounts. How much has actually been returned, how much remains frozen, & how much remains lost? Agrobank is owned by MOF Incorporated, serves an agricultural policy mandate & is regulated by BNM. Its board, the shareholder & the regulator should give Malaysians a clear chronology, the root cause, the financial impact & the action taken. "No customer funds were affected" cannot be the final answer to a loss larger than the bank’s 2024 annual profit. @AgrobankMY @MOFmalaysia @anwaribrahim @MSabuOfficial @BNM_official

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