BNM wants full explanation of root cause of service outage from two banks


KUALA LUMPUR: Bank Negara Malaysia (BNM) has required two banks which experienced services outages recently to provide a full explanation of the root cause leading to the incidents.

The central bank said in a statement on Tuesday night that both banks were also required to provide corrective and preventive measures undertaken to avoid a recurrence of similar issues.

BNM said it takes a serious view of the recent banking services outages by two of our largest banking institutions which have caused disruptions and inconvenience to customers.

"Both banks have since restored normal banking services.

"The banks have also been instructed to ensure appropriate communication with affected customers, including promptly attending to any complaints and inquiries resulting from the outage and providing timely updates on services that were affected,” it said.

BNM said it expects all banking institutions to maintain high availability of banking services at all times.

"BNM will not hesitate to take further supervisory actions where banks have fallen short of our regulatory and supervisory expectations,” it said.

At 4.14pm on April 8, CIMB Group Holdings Bhd said in its X account (previously known as Twitter) that its banks were experiencing intermittent service disruption on CIMB Clicks, CIMB OCTO, FPX, MyDebit, Credit and Self Service Terminals.

At 7.10pm on the same day, the country's third largest commercial bank by assets announced that all its services have been restored.

Meanwhile, Malayan Banking Bhd (Maybank) announced on its X account today that it experienced a disruption affecting its debit cards, online banking and ATM services on April 5 at around 9.20pm.

The largest bank by assets and market capitalisation in Malaysia said the impacted services were gradually normalised and fully recovered at 11.34 pm the same day. - Bernama

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Bank Negara , BNM , Banking , outages , Maybank , CIMB

   

Next In Business News

E&O to launch projects with RM1.63bil GDV
Oil advances as major producers expected to keep output cuts in place
Freight hikes force shippers to get creative
SC to launch social exchange by end of year - chairman
Hong Kong home prices rise 0.3% in April from March
China's state banks step in to support as yuan weakens to six-month low, sources say
PETRONAS Chemicals registers improved net profit of RM668mil in 1Q
Farm Fresh's 4Q net profit surges to RM23.93mil
PETRONAS Gas' net profit rises to RM456.65mil in 1Q
RHB Bank posts 1Q net profit of RM730.17mil

Others Also Read