1. LING BING YONG (305680)2.AHMAD AMZARUDIN BIN ABD RAZAK (307396)3. AIMAN DANIAL BIN AB RAHMAN (307410)4.SYARIFAH NURIN FAQIHAH BINTI SYED DZULKIFLI (307656)5.IVAN LIM ZHI HONG (307732)6.FARAH NAJIHAH BINTI ZAIROL EZAL (307737)7.MUHAMMAD HAFIZIN BIN MOHD RAZALI (307746)8.PUTERI NUR AISYAH SHAZWANI BINTI MOHD RIZAL (307766)9.MUHAMAD AFFIF BIN MOHAMAD ARIS (307767)10.NOR ATIQAH BINTI ANUAR (307775)FLIPBOOK 1: MALAYSIA CASEMPU1062 Integrity & Anti-Corruption (Group AA)GROUP 5: Aman Shah, The Thief of 1 CentGROUPMEMBERSPrepared for: Prof. Madya Dr. Nur Syakiran Akmal bt. Ismail
Executive SummaryThis case study analyzes the \"Aman Shah\" banking fraud of1990, often mythologized as the \"One Cent Theft.\" As ayoung executive at Hock Hua Bank, Aman Shah exploitedthe transition from manual to digital banking to siphonRM4.01 million via the bank's suspense accounts. Thisflipbook explores his modus operandi, his capture followinga high-profile TV appearance on \"Sekapur Sireh,\" and thecritical failures in internal controls (segregation of duties)that allowed the fraud to occur. It concludes with lessonson integrity and the need for modern unified securityplatforms.
Profile of aman shah1Aman Shah bin Aman Ghazali was not a stereotypicalcriminal mastermind, but rather a talented and trustedinsider perfectly positioned to exploit a pivotal momentin Malaysia’s financial history.2At just 24 years old in 1990, he was a promisingaccounting graduate from the prestigious UniversityInstitut Teknologi MARA (UITM), representing the newgeneration of tech savvy professionals (CILISOS, 2017).3His potential was recognized by Hock Hua Bank in Kuching,Sarawak, which placed him in charge of its critical SPEEDSDepartment an acronym for Salary Processing, ElectronicEntry, and Data Services (Unimel, 2024).4In this role, Aman Shah was the gatekeeper of the bank's transitioninto the digital age, personally overseeing the computerized systemthat processed salaries and financial data for countless accounts.This position granted him unparalleled access and technicalauthority, making him one of the few individuals who fullyunderstood both the accounting principles and the nascent softwarethat the bank's future depended on.
banking context: 1990In 1990, banks in Malaysia were changing in a big way. For a longtime, everything was written by hand in large paper books calledledgers. But now, they were starting to use new computer systems.Everyone thought computers would make banking faster and reducemistakes.Banking RevolutionHowever, this change also created a dangerous gap. Bank managersand security officers understood paper records, but they did not trulyunderstand how the new computers worked. The rules for keepingdigital money safe were weak and full of holes. It was a new world,and the guards were not ready.Aman Shah worked right in the middle of this change. His job in theSPEEDS department meant he knew the old rules of accounting andthe secrets of the new computers. While others saw the computer as aconfusing machine, he saw it as a tool—and he knew exactly how touse it.
If you lost one cent from your bank account, you would probably neversee it. Most people don't check their bank balance to the exact cent. Youmight think it was just a tiny computer mistake or a rounding error. ButAman Shah wasn't taking one cent from one person he was taking one centfrom thousands of people, every single time the system ran.“salamislicing”mythHe is said to have hidden a secret program in the bank's computer. Thisprogram was designed to quietly steal just one cent from the account ofthousands of different bank customers. Every time a transaction happened,like a salary payment or interest calculation, his program would quietlyshave off one tiny cent from the total.How did it work?Why didn't anyone notice?All those single cents, when added together, became a huge amount ofmoney. For example, if he took 1 sen from 100,000 accounts, he wouldinstantly have RM 1,000. The program secretly sent all these tiny slicesinto a bank account that he controlled, slowly filling it up.People call Aman Shah's clever trick \"Salami Slicing.\" Imagine slicing asalami sausage very, very thin. He did something similar with money.The Perfect Crime?This made it almost impossible to catch him. No single customer would complain, and the totalmoney in the bank's system still seemed correct. It was a crime hidden in plain sight, using thecomputer's own speed and precision against it. This story turned Aman Shah into a kind of modernghost story the invisible thief inside the computer, who stole a fortune one penny at a time.
The Myth vs. The Reality:It Wasn't Just One CentThe Myth The RealityPopular culture believes Aman Shah used a \"salamislicing\" technique, skimming mere cents fromthousands of accounts to remain undetected.The fraud was much bolder. As the Head of theSPEEDS Department, Aman Shah manipulated thebank's \"Suspense Account\" (a temporary holdingaccount for unverified funds) (Mekanika, 2022).The TechniqueHe processed unauthorized transfers from theSuspense Account directly into his own proxyaccounts. Because he was the department head, hecould approve his own overrides, bypassing thestandard \"maker-checker\" security protocol.
Following the Money:RM4.01 Million StolenThe TotalOver a short period in 1990, Aman Shah siphoned approximatelyRM4.01 Million (Prezi, 2025). In today's value (adjusting forinflation), this would be worth over RM10 million.The LaunderingHe didn't keep the money in Hock Hua Bank. He transferred thestolen funds to an account at BCCI (Bank of Credit and CommerceInternational) to avoid immediate detection by internal auditors.The ImpactThis was not a victimless crime; it exposed a massive loophole inthe bank's manual-to-digital transition period.
The Millionaire Lifestyle on a Clerk's SalaryLamborghiniCountachThe crown jewel of hiscollectionThe Red FlagAman Shah earned roughly RM1,800 a month. Yet, he amasseda collection of supercars that even CEOs could not afford.The CollectionPorsche 928 S4A high-performanceluxury tourerMercedes-Benz300SLA classic symbol ofwealthBMW 325iDaily CarThe Fatal MistakeBuying these cars with cash is whateventually drew attention to him.
SEKAPUR SIREH: TV INTERVIEWSTORYTHE MOMENT OF TRUTHThe turning point came when he was invited to appear on TV3'spopular talk show “Sekapur Sireh”. Enjoying the spotlight, AmanShah boldly shared his “success” story and openly talked abouthis collection of expensive cars. However, fate had a differentidea. As it happened, his former boss at Hock Hua Bank waswatching. When he saw his former employee displaying wealththat significantly exceeded his known income, suspicion wasimmediately triggered. His downfall would come from thistelevised act of arrogance.
TIMELINEThe \"cent-hacking\" scheme starts byquietly transferring tiny sums of moneyinto individual accounts.Aman Shah appears on \"Sekapur Sireh,\" publiclyshowing off his sudden wealth. His former bosswatches and gets suspicious.The very next day, the bank conducts an internal audit,uncovering RM4.01 million in missing client funds. Apolice report is filed at the Campbell Police Station.Acting swiftly on the report, police track downand arrest Aman Shah at a condominium.3 June 1990 11 June 19908 June 1990
THE VERDICTTHE FALL OF ONE- CENT THIEFAman Shah was located and arrested at a property in DamansaraHeights, bringing his high-flying life to an abrupt halt. He wascharged under Section 408 of the Penal Code for criminal breach oftrust by a clerk or servant, and he was subject to the full force ofthe law (Penal Code, 2018). There was a ton of evidence againsthim. He was found guilty by the Sessions Court and given a fiveyear prison sentence for his offenses (Unimel, 2024). At last, the\"one-cent thief\" was captured.
OUR GROUP’S OPINIONThe main factor that pushed AmanShah to commit his crimes was hisanxiety about his social status,considering that he was a younggraduate who worked for andassociated with wealthy bankingclients on a regular basis.WHY DID HE DO IT?Moreover, the factor of greedcannot be overlooked. Thepsycho-effect of having an excessof virtual currency had lessenedthe significance of risk andpossession to the individual,thereby justifying the act ofcheating.First and foremost, this case highlights intelligence without wisdom.For instance, although Aman Shah had supremely high technicalintelligence to be able to manage such complex banking systems, helacked foresight to appreciate the long-term implications of what hedid. As it is said,“Greed is a bottomless pit which exhausts theperson in an endless effort to satisfy the need.”
OUR GROUP’S OPINIONYes, the bank was also responsiblebecause there was a clear case of asystemic breakdown regarding theconcept of segregation of duties.Aman Shah was granted too manypowers regarding the SPEEDS system,which had the powers ofauthorisation, recording, andcustody, and these powers mustnever rest with the same person.WAS THE BANK AT FAULT?Moreover, there was a lack ofcontrol of the suspenseaccounts, allowing the accountsto be abused undetected. Itshould be noted that theconflict of interest had not beenaddressed, leading to theundetected commission of thefraud for an extended period oftime.This case illustrates animportant learning experienceabout corporate governance.Trust and effective internalcontrols do not substitute eachother. Monitoring anddelegation of duty are importantto ensure that organizations aresafeguarded against internalfraud.
Value And HopeEthical Values1. Employee SOP MonitoringEstablish adaptive peer behaviorbaselines to detect suspicious actionsImplement restricted access measures,such as one-time passwords, whichallow usage to be tracedLimit employee accessEnforce employee accountability foractions and decisionsPrevent unauthorized activities andsafeguard customer assetsHope 2. Unified PlatformOperates under a centralizedmanagement systemEnsures consistent access controlsand enforcement of operational rulesEnhances the overall security postureof the bankReduces risks of internalmanipulation or selective reportingMinimizes the likelihood of unethicalactionsINTEGRITYMisusing a position for personalgainIt violates the principles ofintegrity. Integrity requiresa person to be honest andto make decision that alignwith ethical standards.Theft can have many negative impact on thecommunity, such as reducing trust, reducingwillingness to cooperate and increasingsuspicion among individuals. To ensure thatfuture banking security can address thesechallenges, bank should strengthenemployee SOP monitoring and implement aunified platformACCOUNTABILITYFailing to take responsibility for even a small misdeedThis is an example of a failure of accountability.Accountability means taking responsibility for ouractions and accepting their consequences.Unauthorized access and manipulation of digital dataclearly violate this principle.Accountability involves complying with establishedrules to maintain public trust in the financial sector.Aman Shah’s story reminds us of theimportance of ethical values in all ouractions, such as integrity andaccountability. Even small actions, liketaking one cent, can reveal a lot about aperson’s character. Maintaining ethicalconduct, even in the smallest actions, isessential for building trust in ourselvesand within the community.
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