Banking industry, PayNet to introduce industry fraud alert: Bank Negara
KUALA LUMPUR: 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.
The banking industry and PayNet are working to introduce industry-wide fraud alert capabilities. According to Bank Negara Malaysia governor Datuk Seri Abdul Rasheed Ghaffour, these alerts will warn banks and customers of potential risks before transactions are completed, prompting customers to verify before proceeding.
Pilot testing of the fraud alert system, involving selected banks, is targeted for the first half of 2027.
The announcement was made at the International Conference on Financial Crime & Counter Terrorism Financing.
Brief written by urgent.news from New Straits Times, Dhaka Tribune Business — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
