Enhancing vigilance on scams

From January to October 2023, 13 ABM and AIBIM member banks had successfully blocked or prevented fraudulent transactions worth RM351mil and protected customers from scams.

PETALING JAYA: The local banking sector will further intensify vigilant fraud prevention measures going forward to help safeguard customers’ financial well being, say two banking associations.

From January to October 2023, 13 member banks under the ambit of Association of Banks in Malaysia (ABM) and Association of Islamic Banking and Financial Institutions Malaysia (AIBIM) had successfully blocked or prevented fraudulent transactions worth RM351mil and protected customers from scams.