Banking industry, PayNet to introduce industry fraud alert: Bank Negara
KUALA LUMPUR: The banking industry and PayNet are working towards introducing industry-wide fraud alert capabilities, with pilot testing involving selected banks targeted for the first half (1H) of 2027.
Bank Negara Malaysia governor Datuk Seri Abdul Rasheed Ghaffour said the industry-wide fraud alert capabilities can warn banks and customers of a potential risk before the transaction is completed.
"These alerts will prompt customers to pause, think, and verify before proceeding," he said during his opening remarks at the International Conference on Financial Crime & Counter Terrorism Financing (IFCTF) 2026 today.
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