Bank Negara wages war on financials scams with new countermeasures, tighter security
KUALA LUMPUR, Sept 26 — In the wake of rising fraud activities, Bank Negara Malaysia today announced that it has issued additional countermeasures and more security to the industry targeting the modus operandi of the latest financial scam tactics.
The central bank also said that banks will be required to set up dedicated hotlines to report scam incidents and create a greater awareness of new fraud tactics to ensure the public is extra vigilant in safeguarding their personal information. “For example, online banking transactions might take a little longer to process. Financial institutions will also conduct more checks when customers request to change or register a new phone number.
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