Malaysian banks to restrict access to banking apps on compromised devices with ‘malware shielding’

This feature aims to prevent unauthorised transactions, safeguard customers' funds, and prevent customers from becoming victims of malware scams. — Image by freepik

PETALING JAYA: Banks in Malaysia are rolling out a feature to detect high-risk malware and suspicious remote access on customer devices, temporarily restricting access to the banking app when threats are identified.

In a statement released today (Aug 9), the Association of Banks Malaysia (ABM) and the Association of Islamic Banking and Financial Institutions Malaysia (AIBIM) labelled the feature malware shielding, adding that it will be embedded within the banks’ mobile apps.