KUALA LUMPUR, Oct 6 (Bernama) -- The banking industry and PayNet are working towards introducing industry-wide fraud alert capabilities, with pilot testing involving selected banks targeted for the first half (1H) of 2027.
Business : Banking Industry, PayNet To Introduce Industry Fraud Alert, Eye Pilot Testing In 1H 2027 -- BNM Governor
BNM, banking, fraud, Abdul Rasheed Ghaffour, econ
BE Bernama 
Key points
- Bank Negara Malaysia (BNM) governor Datuk Seri Abdul Rasheed Ghaffour said the industry-wide fraud alert capabilities can warn banks and customers of a potential risk before the transaction is completed.
- Abdul Rasheed said this capability may introduce interference for customers, and there may also be complaints.
- “This demonstrates the potential of network-level intelligence by collecting information required by institutions to identify risks that may appear invisible from the perspective of any one individual institution,” he said.
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- Bernama Business : Banking Industry, PayNet To Introduce Industry Fraud Alert, Eye Pilot Testing In 1H 2027 -- BNM Governor (this story)
