The traditional financial economy was already evolving towards a digital financial economy, even before covid. However, during the covid and the lockdowns more people, even those who were never consumers of digital finance, began to move towards digital finance. The movement of the traditional brick and mortar financial industry towards Read more
Social protection includes policies, programmes and measures aimed at ensuring a basic standard of living for a nation’s people and protecting people against major shocks such as serious illnesses, injury and unemployment. The covid pandemic which certainly seriously damaged people’s livelihood has severely tested the current social protection policies. Bank Read more
Broadband has become the electricity of the twenty first century. It is fundamental to the way people work, learn, live and play. More than ever, the pandemic illustrated the critical significance of broadband. Work form office shifted to work from home. School learning moved towards online learning. More consumers purchased Read more
Energy is a very critical part and parcel of our daily lives. We use it for lighting our homes, cooking food, playing music, powering a wide range of appliances and for many other personal and household purposes. However, excessive consumption of energy is both expensive and harmful to the environment. Read more
Consumers are significant players in the digital economy. In fact in a modern economy, mobile and broadband have become the electricity of the twenty first century. It is fundamental in the way people work, live and play. One of the critical impacts of the current pandemic in fact has been Read more
Consumer protection is not a new phenomenon. Ever since the eighteen century, consumers have protested against the abuses of the market. They have boycotted products, protested against the abuses of the market and promoted notions of fair and honest trade. Anwar Fazal, a leading consumerist, has suggested that the Hittites Read more
Macau scams are on the rise with losses amounting to hundreds of millions of ringgit. According to Bukit Aman Commercial Crime Investigation Department (CCID), there were 5,725 cases in 2019 with losses up to RM 254.5 million. This increased to 6,003 cases in 2020 with losses amounting to RM 287.3 Read more
On 15th March 1962, when President John F, Kennedy moved the Bill of Consumer Rights in the American Congress, he recognised consumers has an important economic group in the American Economy. At that time he recognised four consumer rights. However, inn 1983 through advocacy of the Consumers International organisation, these Read more
The Malaysian economy is based on the market economy. In a market economy there are two key players – the seller and the buyer (consumer). (We will talk about the third player – the government later). In the market, the seller of the product or service has one primary motive Read more
There are two critical laws that impact consumer protection – The Consumer Protection Act, 1999 and the Competition Act, 2010. While the Consumer Protection Act protects individual consumer rights such as unfair trade practices, deceptive advertising and shoddy goods and services as well as provides a framework for consumer redress Read more