The country’s major banking associations namely the Association of Banks Malaysia, the Association of Islamic Banking and Financial Institutions Malaysia, and The Association of Development Finance Institutions Malaysia (ADFIM), have stated their full support for the Central Banks’ five key measures to combat financial scams.
In a joint press statement, the association’s said it acknowledges that the implementation of these measures may lead to changes in customers’ online banking experiences and expectations, whereby online banking transactions could potentially take a slightly longer duration due to added security measures and checks.
And has asked for customers’ patience and understanding on the expected delays and inconvenience that they may face once these measures are implemented. These measures however are crucial for the added safety and security of the banks’ customers.
The member banks of ABM, AIBIM, and ADFIM said they are committed to ensuring proper communication with customers in relation to the above measures, including the implementation dates for the various measures, any changes to processes, and action required on the part of the customers, contact details to seek assistance.
