Bank Negara calls for high security standards to fight scams

“Fraud risk is constantly evolving, as scammers continue to devise more sophisticated means of defrauding the public. This includes new approaches of tricking bank account holders into revealing their banking details or installing malware on their devices,” the central bank (pic) said

KUALA LUMPUR: All licensed banks are required to adopt high standards of security, particularly for Internet and mobile banking services, which includes routine security reviews and advisories issued by Bank Negara to financial institutions.

The advisories include the need to enhance existing controls and ensure adequate protection against latest threats, while maintaining efficient services for customers, it said.