BANGKOK, Oct 14 (Bernama) -- Malaysia’s National Fraud Portal is a key tool in combating digital financial scams by enabling faster fund tracing and recovery through coordinated action among financial institutions.
Business : Malaysia Leveraging National Fraud Portal In Fight Against Digital Scams
Bank Negara Malaysia, National Fraud Portal, Dr N
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Key points
- Bank Negara Malaysia (BNM) Assistant Governor Dr Norhana Endut said about 95 per cent of fraud and scam cases in Malaysia involved authorised transactions, where victims were manipulated into approving payments.
- Norhana said Malaysia had adopted a multi-pronged approach focusing on prevention, enforcement, recovery, and consumer awareness, supported by stronger fraud detection, information sharing and cross-sector collaboration.
- Norhana stressed that effective fraud prevention required coordinated action among banks, telecommunications companies and digital platforms to share intelligence and respond swiftly to emerging threats.
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