Kuala Lumpur: Bank Negara Malaysia (BNM) has today announced a 58 per cent reduction in unauthorised online banking transactions reported to the National Scam Response Centre over the past five months.
The central bank's governor Datuk Shaik Abdul Rasheed Abdul Ghaffour said the reduction was due to the implementation of BNM’s five key measures to combat financial fraud in December 2022.“These early signs are very encouraging, and we anticipate further reductions in the future,” he said at the launch of the #jangankenascam National Scam Awareness Campaign at the Kuala Lumpur Convention Centre here.
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“Some have faced the loss of their entire life savings, struggling to recover financially. In light of this, the bank is actively evaluating additional policy enhancements to address financial scams.“This includes strengthening the requirements for financial institutions to undertake a more robust investigation, stronger preventive controls and review the effectiveness of this mechanism,” he said.
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