KKD and BNM Continues Cooperation To Reduce Financial Fraud

The Communications and Digital Ministry (KKD) is committed to continue working together with Bank Negara Malaysia (BNM) to curb fraud in the financial sector.

“We are committed to working together to curb financial fraud. Insya-Allah, this cooperation will continue towards a safer digital landscape,” its minister, Fahmi Fadzil said after his meeting with BNM governor Tan Sri Nor Shamsiah Mohd Yunus today.

He said that they had also discussed the county’s economic projection, especially in the digital field, during their meeting. BNM was previously reported to have stated that it would continue its cooperation with the Royal Malaysian Police (PDRM), the Malaysian Communications and Multimedia Commission (MCMC) and the financial industry to coordinate efforts to curb financial fraud and to create better public awareness about the latest fraud tactics.

Fahmi also posted on Facebook that he was also having discussions with the Association of Islamic Banking and Financial Institutions Malaysia (AIBIM) about awareness on online scams. He said that online scams are his main focus in his efforts to tackle cybercrime since being appointed to head the ministry in December last year.

On efforts to curb online scams, Fahmi said they were also discussing potential cooperation between AIBIM and his ministry’s agencies related to the field. The most reported online scams involve e-commerce or online purchases, non-existent loans, Macau scams and love scams.

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