PETALING JAYA: Malayan Banking (Maybank) and CIMB have expressed their commitment to collaborate with the government in strengthening banking security...
The higher funding for the National Scam Response Centre will help to reduce incidences of financial crimes. Picture for illustration purposes only. – AFPpicMalayan Banking and CIMB have expressed their commitment to collaborate with the government in strengthening banking security and fighting fraudulent activities, in response to Budget 2024.
“The banking industry is committed to working closely with Bank Negara Malaysia on the setting up of a national fraud portal by mid-2024, where key data collected can be used to detect patterns and connections between the accounts used by scammers,” he added. “CIMB remains committed to undertaking all necessary measures to further support and strengthen banking security and work together with the relevant authorities and our customers to combat scams collectively,” he said.
In May, Securities Commission Malaysia executive chairman Datuk Seri Awang Adek Hussin stated that Malaysia has experienced a significant increase in online scam cases. He said that between 2020 and 2022, the total number of fraud-related complaints rose by 100%.
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