Security

TNG to Implement Bank Grade Security Measure Imposed by BNM

Touch ‘n Go eWallet announced that it has come forward to be the first startup and non-bank provider that has committed to voluntarily incorporate the five key measures which have been recently imposed on banks by Bank Negara Malaysia to

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Malaysia Sets up National Scam Response Center to Coordinate Rapid Responses

The Malaysian government has set up a National Scam Response Center (NSRC) to streamline coordination between agencies for rapid response towards online financial scams. The command center is a joint effort between the National Anti-Financial Crime Center (NFCC), Polis Diraja

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CIMB Beefs up Security Measures as Mandated by Bank Negara Malaysia

CIMB and CIMB Islamic Bank announced that it is on track to fully implement the enhanced security measures against scam as announced recently by Bank Negara Malaysia (BNM). The bank has already implemented SecureTAC approval via its CIMB Clicks app

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Maybank to Fully Shift From SMS OTPs to Secure2u by June 2023

Maybank announced that it will fully migrate to a more secure authentication method via Secure2u by June 2023. This applies to online activities or transactions relating to account opening, fund transfers and payments as well as changes to personal information

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BNM: Banks Will Enforce Additional Measures to Combat Rising Financial Scams

There will be five additional measures that will be undertaken by the banking industry to combat financial scams, says Governor of Bank Negara Malaysia (BNM), Tan Sri Nor Shamsiah Mohd Yunus. The Governor announced this at a virtual exhibition by

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Open APIs, Digital Banking and Hybrid Work — How TM One Protects its Clients from Cyber Threats

The pandemic accelerated digitalisation to levels never before seen, forcing the financial sector to evolve quickly or risk being left behind. In addition to pivoting to a remote workforce, financial sector also embraced digital banking and open application programming interfaces

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Kiplepay Cautions Users on Potential Data Breach Due to iPay88’s Incident

Kiplepay, an e-wallet service provider and a wholly-owned subsidiary of Green Packet, had informed its Kiple Visa Prepaid Card users via email of a potential data breach through a third-party payment gateway provider on 15th August 2022. The customer communication

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BNM Says iPay88’s Data Breach Does Not Involve Banks’ Systems Vulnerabilities

Bank Negara Malaysia (BNM) said in a statement that forensic investigations are still ongoing with regard to the payment gateway provider iPay88’s potential data breach incident. The breach originated from and is confined to iPay88’s payment card systems and does not

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Banks to Heighten Cybersecurity Countermeasures After iPay88’s Breach

Malaysia’s iPay88 revealed in a statement that it had experienced a cybersecurity incident where card data may have been potentially compromised. iPay88 said that upon discovery of the issue, it had immediately initiated an investigation on 31 May 2022 and

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Al Rajhi Malaysia Selects Feedzai to Bolster Security for Its Digital Bank

Al Rajhi Bank Malaysia (ARBM) has partnered with risk management platform Feedzai to integrate the latter’s RiskOps solution onto its platform. RiskOps by Feedzai is a fully integrated cloud offering which covers device authentication, malware defense, behavioral biometrics along with

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