I guess EPF is quite serious about the definition of the term “maturity”.
KWSP on the penalties of fraudulent withdrawal…
One member was jailed and fined RM2,000 while one member was fined RM3,000 or 2 months imprisonment. Two of them were slapped with a RM2,000 fine or a 2-month jail term. The fifth member was fined RM2,000 or a 1-month jail term. All five paid their fines.
For the record, those found guilty under the EPF Act 1991 are liable to a maximum jail sentence of three years, or a maximum fine of RM10,000, or both.
“It is most unfortunate that some members resort to fraudulent means to withdraw their savings. It is even sadder when some of them are willing to pay part of their own hard-earned savings to unscrupulous third parties. Members should realise that they are not cheating the EPF of any money; they are only cheating themselves,” added Puan Rusma.
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