The Ministry of Finance (MOF) is cautioning the public to remain vigilant against offers to ‘cash out’ or conduct ‘peer-to-peer’ transfers of eMADANI credit by unauthorized parties on social media platforms.
MOF will not be responsible for eMADANI scams
This warning comes as an effort to prevent MADANI beneficiaries from falling victim to scams and consequently losing their eMADANI credits.
MOF has clearly stated that they will not be responsible for any loss of credit resulting from peer-to-peer transfers or cash-out services.
The government is prepared to take strict measures, including the suspension of accounts and revocation of eMADANI credit rights in cases involving such unauthorized transactions.
eMADANI only applicable for offline transactions
“The MADANI program was launched to promote the digital economy and foster a culture of cashless payment.”
“Therefore, eMADANI credits are not meant to be used for peer-to-peer transfers or cash redemption.”
They are strictly for physical purchases through involved e-wallets such as MAE, Setel, ShopeePay, and Touch ‘n Go eWallet, or QR DuitNow at 1.8 million retailers/businesses nationwide.
Registration for the MADANI program is open from today until February 20, 2024, and is expected to benefit up to 10 million eligible adults, covering the B40 and M40 groups.