Malaysia’s banking industry and Payments Network Malaysia (PayNet) are working towards introducing industry-wide fraud alert capabilities. According to Bank Negara Malaysia (BNM), pilot testing involving selected banks is targeted for the first half (1H) of 2027.
BNM governor Datuk Seri Abdul Rasheed Ghaffour said the system will be able to warn banks and customers of potential risks before a transaction is completed. These alerts are intended to prompt customers to pause, think and verify a transaction before proceeding.
Fraud Alerts Could Add Friction For Customers
Speaking during his opening remarks at the International Conference on Financial Crime & Counter Terrorism Financing (IFCTF) 2026 today, Abdul Rasheed acknowledged that the new system could introduce additional interference for customers. This could also result in complaints, particularly if legitimate transactions are delayed or interrupted.
