Bank Negara fines local banks for e-banking outages

Bank Negara said it expects all financial institutions to maintain a high level of their technology resilience against operational disruptions to ensure the continuous availability of essential financial services.

KUALA LUMPUR: Bank Negara has imposed administrative monetary penalties on Malayan Banking Bhd (Maybank) and CIMB Bank Bhd for e-banking service outages that occurred in June and April, respectively.

In separate statements, the central bank said Maybank was fined RM4.32mil for the unplanned downtime while CIMB was fined RM760,000, on July 29.