PETALING JAYA: The public must distinguish between genuine banking disruptions and unverified cyberattack claims and avoid falling prey to panic fuelled by social media, say cybersecurity experts.
Cybersecurity expert Datuk Dr Amirudin Abdul Wahab said the greater danger was not just cyberattacks but the erosion of public confidence in the safety of their money, personal information and essential services.
“People are becoming increasingly conscious of cyber threats, particularly following reports of incidents involving financial institutions, government services and critical infrastructure.
“However, we must not confuse public perception with technical evidence. A failed ATM transaction does not necessarily mean a bank has been hacked or customers’ deposits compromised.
“It is important to distinguish between the availability of banking services and the security of customers’ funds and personal information,” he said.
Amirudin was responding to claims of ATM disruptions and banking incidents circulating on social media in recent days, amid concerns following the government’s decision to raise the national cybersecurity threat level.
On Nov 3, Prime Minister Datuk Seri Anwar Ibrahim warned Parliament that Malaysia could be targeted by cyberattacks amid geopolitical tensions.
On Nov 2, cyberattacks targeting supermarket refrigeration systems in at least 10 European countries, including France, Germany, Sweden and Italy, destroyed large quantities of food after temperatures reportedly rose to as high as 50°C.
Amirudin, a former CyberSecurity Malaysia chief executive officer, said it was understandable that people were linking failed banking transactions to cyberattacks, but banks and authorities must act swiftly to maintain public confidence.
He urged financial institutions to strengthen monitoring and protection of ATM infrastructure, interbank payment networks, core banking systems and third-party service providers.
He also stressed the need for coordination between Bank Negara, the National Cyber Security Agency (Nacsa), PayNet and financial institutions to identify the cause of disruptions and contain any potential threats.
Amirudin called on banks to be transparent when customers’ accounts were debited but cash was not dispensed.
Cybersecurity consultant Fong Choong Fook said the public should seek confirmation directly from banks rather than rely on speculation circulating online.
“Cyberattacks happen from time to time, but this does not necessarily mean ATMs are being specifically targeted in the current situation. The best approach is to verify information with the relevant source before sharing it with others,” he said.
Malaysia Cyber Consumer Association president Siraj Jalil said cybersecurity was everyone’s responsibility, not just that of the government or technology industry.
Citing past breaches across both public and private sectors – including a reported RM200mil hack at Agrobank and service disruptions at Tabung Haji – he noted that data security threats continue to hit everyday citizens.
However, individual users remained frequent targets of cybercrime.
Siraj cited recent warnings by Nacsa and CyberSecurity Malaysia about WhatsApp and Telegram messages with ZIP files that contain malware.
“Users must strengthen their knowledge and pay attention to warnings issued by the authorities to avoid falling victim to cybercriminals,” he said, adding that cybersecurity began at home, with users responsible for securing their Wi-Fi networks, smart TVs and Internet of Things devices.
Malaysian Cyber Security Community Organisation chairman Tahrizi Tahreb said Malaysia faced similar cyber risks to other countries as its reliance on connected systems and technology suppliers grew.
“Attackers look for weaknesses wherever they are. We must protect critical equipment and practise how essential services will continue during a disruption.
“Anything important enough to connect is important enough to protect and to have a recovery plan for,” he said, noting that prompt detection and staff action had helped protect French blood supplies during a cyberattack in Europe.
