KUALA LUMPUR, Oct 4 (NNN-BERNAMA) – Malaysia’s central bank, yesterday, announced a 58 percent decrease in unauthorised online banking transactions over the past five months, being reported to the National Scam Response Centre.
The reduction was due to the implementation of the central bank’s five key measures to combat financial fraud in Dec, 2022, Governor Shaik Abdul Rasheed Abdul Ghaffour said, in his opening address at the International Conference on Financial Crime and Terrorism Financing 2023.
Shaik Abdul Rasheed said, since the centre’s commencement of operations in Oct last year, it has received over 19,000 reports on scam cases, leading to the freezing of more than 60 million ringgit (12.7 million U.S. dollars) and the identification of 43,000 mule account holders.
While financial crimes involving corruption, drug trafficking, smuggling, and organised crime continue to remain a risk, Shaik Abdul Rasheed said, scams and fraud continue to be the most widespread and pervasive form of financial crime.– NNN-BERNAMA
