{"id":58363,"date":"2023-09-06T17:22:23","date_gmt":"2023-09-06T09:22:23","guid":{"rendered":"http:\/\/wordpress-my-161844363.ap-southeast-1.elb.amazonaws.com\/articles\/?p=58363"},"modified":"2023-09-06T17:22:23","modified_gmt":"2023-09-06T09:22:23","slug":"national-fraud-portal-bnm","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/national-fraud-portal-bnm","title":{"rendered":"BNM Says National Fraud Portal Will Be Ready By Mid-2024"},"content":{"rendered":"

Currently, Bank Negara Malaysia (BNM) is working closely with Payments Network Malaysia Sdn Bhd (PayNet) and the financial industry in order to develop and launch the national fraud portal. The estimated time of delivery is the middle of next year.<\/span><\/p>\n

BNM deputy governor Datuk Marzunisham Omar said that the main function of the portal will be to improve and automate the ability to trace fund movements as well as identify money mules.<\/span><\/p>\n

\u201cBNM is working with the financial industry and PayNet to improve the National Scam Response Centre by automating the process of detecting and tracing the movement of funds stolen from financial scam victims. We hope that by doing this, we will increase the likelihood of tracing and freezing the fund, and protect the victims from losses,\u201d he said after the media workshop and panel discussion on financial scams at Lanai Kijang on Tuesday.<\/span><\/p>\n

Marzunisham also made note of the rapid evolution of technology and the many potential benefits that it may offer to the financial industry and consumers alike. Unfortunately, such advances have also led to the rise of artificial intelligence (AI)-powered scams.<\/span><\/p>\n

\u201cThis is something that we have to guard against, we don\u2019t want to underestimate the scammers as they use various modus operandi to scam the people,\u201d he said.<\/span><\/p>\n

During the panel discussion, BNM\u2019s technology risk specialist Ng Lee See also gave some words of warning on the fact that globally, AI technology has been used to digitally manipulate or generate fake visual and audio content featuring well-known personalities. While this technology has mostly been used for armless fun, the potential for it to be utilised for fraudulent purposes cannot be understated.<\/span><\/p>\n

In some instances, it has led victims to believe that an investment scheme is genuine, therefore it is important that the public be made aware of scammer\u2019s tactics, and to always check on investment scheme licenses prior to making investments, Ng said.<\/span><\/p>\n

She also said that members of the public could refer to the Securities Commission\u2019s website to verify the list of companies or individuals licensed to carry out financial planning or investment services. The public can also make use of BNM\u2019s website to see the list of individuals or entities regulated by the central bank.<\/span><\/p>\n

Apart from the fight against AI-driven digital crimes, Ng also states that financial institutions must keep themselves informed on current events in terms of investment laws and cybersecurity operations.<\/span><\/p>\n

\u201cThe banking industry must also support the government\u2019s efforts to strengthen the telecommunication infrastructure\u2019s security,\u201d she added.<\/span><\/p>\n

She noted that the banking industry has done pretty well in terms of detecting scams using the Android Package Kit (APK), which has led to a decline in such cases.<\/span><\/p>\n

\u201cHowever, scammers are always changing their tactics, and scams are becoming more sophisticated and complex,\u201d said Ng.<\/span><\/p>\n

In other news, Bank Negara has recently imposed penalties up to RM2.7 mil for a breach of the Financial Services Act. You can find out more here<\/a>.<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"

This new portal could potentially improve fund tracing immensely to help counter cybercriminals.<\/p>\n","protected":false},"author":58,"featured_media":57654,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[216],"tags":[1279,1280,522,350,1414,982,1415,493,645,1005],"class_list":["post-58363","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-updates","tag-ai","tag-artificial-intelligence","tag-bnm","tag-cybersecurity","tag-fraud","tag-news","tag-paynet","tag-scam","tag-scammer","tag-security"],"acf":[],"yoast_head":"\nThe National Fraud Portal Is Set To Be Launched In Mid-2024<\/title>\n<meta name=\"description\" content=\"The potential dangers of cybercriminals have led to the development of Malaysia\u2019s National Fraud Portal, which will be ready by mid-2024\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.imoney.my\/articles\/national-fraud-portal-bnm\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BNM Says National Fraud Portal Will Be Ready By Mid-2024\" \/>\n<meta property=\"og:description\" content=\"The potential dangers of cybercriminals have led to the development of Malaysia\u2019s National Fraud Portal, which will be ready by mid-2024\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.imoney.my\/articles\/national-fraud-portal-bnm\" \/>\n<meta property=\"og:site_name\" content=\"iMoney Malaysia\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-06T09:22:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2023\/08\/07165444\/bank-negara-.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jordan Low\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jordan Low\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/national-fraud-portal-bnm#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/national-fraud-portal-bnm\"},\"author\":{\"name\":\"Jordan Low\",\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/#\\\/schema\\\/person\\\/504ffd45ac95c1aed85e1dfc7d4c4ea6\"},\"headline\":\"BNM Says National Fraud Portal Will Be Ready By Mid-2024\",\"datePublished\":\"2023-09-06T09:22:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/national-fraud-portal-bnm\"},\"wordCount\":512,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/national-fraud-portal-bnm#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/static.imoney.my\\\/articles\\\/wp-content\\\/uploads\\\/2023\\\/08\\\/07165444\\\/bank-negara-.jpg\",\"keywords\":[\"AI\",\"artificial intelligence\",\"BNM\",\"Cybersecurity\",\"fraud\",\"News\",\"PayNet\",\"Scam\",\"Scammer\",\"Security\"],\"articleSection\":[\"News Updates\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.imoney.my\\\/articles\\\/national-fraud-portal-bnm#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/national-fraud-portal-bnm\",\"url\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/national-fraud-portal-bnm\",\"name\":\"The National Fraud Portal Is Set To Be Launched In Mid-2024\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/national-fraud-portal-bnm#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/national-fraud-portal-bnm#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/static.imoney.my\\\/articles\\\/wp-content\\\/uploads\\\/2023\\\/08\\\/07165444\\\/bank-negara-.jpg\",\"datePublished\":\"2023-09-06T09:22:23+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/#\\\/schema\\\/person\\\/504ffd45ac95c1aed85e1dfc7d4c4ea6\"},\"description\":\"The potential dangers of cybercriminals have led to the development of Malaysia\u2019s National Fraud Portal, which will be ready by mid-2024\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/national-fraud-portal-bnm#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.imoney.my\\\/articles\\\/national-fraud-portal-bnm\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/national-fraud-portal-bnm#primaryimage\",\"url\":\"https:\\\/\\\/static.imoney.my\\\/articles\\\/wp-content\\\/uploads\\\/2023\\\/08\\\/07165444\\\/bank-negara-.jpg\",\"contentUrl\":\"https:\\\/\\\/static.imoney.my\\\/articles\\\/wp-content\\\/uploads\\\/2023\\\/08\\\/07165444\\\/bank-negara-.jpg\",\"width\":1200,\"height\":628,\"caption\":\"Bank Negara\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/national-fraud-portal-bnm#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"News Updates\",\"item\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/category\\\/news-updates\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"BNM Says National Fraud Portal Will Be Ready By Mid-2024\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/#website\",\"url\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/\",\"name\":\"iMoney Malaysia\",\"description\":\"Everything you need to know about improving your personal finances.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/#\\\/schema\\\/person\\\/504ffd45ac95c1aed85e1dfc7d4c4ea6\",\"name\":\"Jordan Low\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/f70608d4c20f96f6cff35357fc9e37d322e1898f6d623a1d6cc307c2076ed42d?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/f70608d4c20f96f6cff35357fc9e37d322e1898f6d623a1d6cc307c2076ed42d?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/f70608d4c20f96f6cff35357fc9e37d322e1898f6d623a1d6cc307c2076ed42d?s=96&d=mm&r=g\",\"caption\":\"Jordan Low\"},\"description\":\"With a background in history and public relations, Jordan has ample experience in business and creative writing, especially in the field of SMEs and Human Resources.\",\"url\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/author\\\/jordan-low\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"The National Fraud Portal Is Set To Be Launched In Mid-2024","description":"The potential dangers of cybercriminals have led to the development of Malaysia\u2019s National Fraud Portal, which will be ready by mid-2024","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.imoney.my\/articles\/national-fraud-portal-bnm","og_locale":"en_US","og_type":"article","og_title":"BNM Says National Fraud Portal Will Be Ready By Mid-2024","og_description":"The potential dangers of cybercriminals have led to the development of Malaysia\u2019s National Fraud Portal, which will be ready by mid-2024","og_url":"https:\/\/www.imoney.my\/articles\/national-fraud-portal-bnm","og_site_name":"iMoney Malaysia","article_published_time":"2023-09-06T09:22:23+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2023\/08\/07165444\/bank-negara-.jpg","type":"image\/jpeg"}],"author":"Jordan Low","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Jordan Low","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.imoney.my\/articles\/national-fraud-portal-bnm#article","isPartOf":{"@id":"https:\/\/www.imoney.my\/articles\/national-fraud-portal-bnm"},"author":{"name":"Jordan Low","@id":"https:\/\/www.imoney.my\/articles\/#\/schema\/person\/504ffd45ac95c1aed85e1dfc7d4c4ea6"},"headline":"BNM Says National Fraud Portal Will Be Ready By Mid-2024","datePublished":"2023-09-06T09:22:23+00:00","mainEntityOfPage":{"@id":"https:\/\/www.imoney.my\/articles\/national-fraud-portal-bnm"},"wordCount":512,"commentCount":0,"image":{"@id":"https:\/\/www.imoney.my\/articles\/national-fraud-portal-bnm#primaryimage"},"thumbnailUrl":"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2023\/08\/07165444\/bank-negara-.jpg","keywords":["AI","artificial intelligence","BNM","Cybersecurity","fraud","News","PayNet","Scam","Scammer","Security"],"articleSection":["News Updates"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.imoney.my\/articles\/national-fraud-portal-bnm#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.imoney.my\/articles\/national-fraud-portal-bnm","url":"https:\/\/www.imoney.my\/articles\/national-fraud-portal-bnm","name":"The National Fraud Portal Is Set To Be Launched In Mid-2024","isPartOf":{"@id":"https:\/\/www.imoney.my\/articles\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.imoney.my\/articles\/national-fraud-portal-bnm#primaryimage"},"image":{"@id":"https:\/\/www.imoney.my\/articles\/national-fraud-portal-bnm#primaryimage"},"thumbnailUrl":"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2023\/08\/07165444\/bank-negara-.jpg","datePublished":"2023-09-06T09:22:23+00:00","author":{"@id":"https:\/\/www.imoney.my\/articles\/#\/schema\/person\/504ffd45ac95c1aed85e1dfc7d4c4ea6"},"description":"The potential dangers of cybercriminals have led to the development of Malaysia\u2019s National Fraud Portal, which will be ready by mid-2024","breadcrumb":{"@id":"https:\/\/www.imoney.my\/articles\/national-fraud-portal-bnm#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.imoney.my\/articles\/national-fraud-portal-bnm"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.imoney.my\/articles\/national-fraud-portal-bnm#primaryimage","url":"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2023\/08\/07165444\/bank-negara-.jpg","contentUrl":"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2023\/08\/07165444\/bank-negara-.jpg","width":1200,"height":628,"caption":"Bank Negara"},{"@type":"BreadcrumbList","@id":"https:\/\/www.imoney.my\/articles\/national-fraud-portal-bnm#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.imoney.my\/articles\/"},{"@type":"ListItem","position":2,"name":"News Updates","item":"https:\/\/www.imoney.my\/articles\/category\/news-updates"},{"@type":"ListItem","position":3,"name":"BNM Says National Fraud Portal Will Be Ready By Mid-2024"}]},{"@type":"WebSite","@id":"https:\/\/www.imoney.my\/articles\/#website","url":"https:\/\/www.imoney.my\/articles\/","name":"iMoney Malaysia","description":"Everything you need to know about improving your personal finances.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.imoney.my\/articles\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.imoney.my\/articles\/#\/schema\/person\/504ffd45ac95c1aed85e1dfc7d4c4ea6","name":"Jordan Low","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/f70608d4c20f96f6cff35357fc9e37d322e1898f6d623a1d6cc307c2076ed42d?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/f70608d4c20f96f6cff35357fc9e37d322e1898f6d623a1d6cc307c2076ed42d?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f70608d4c20f96f6cff35357fc9e37d322e1898f6d623a1d6cc307c2076ed42d?s=96&d=mm&r=g","caption":"Jordan Low"},"description":"With a background in history and public relations, Jordan has ample experience in business and creative writing, especially in the field of SMEs and Human Resources.","url":"https:\/\/www.imoney.my\/articles\/author\/jordan-low"}]}},"_links":{"self":[{"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/posts\/58363","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/users\/58"}],"replies":[{"embeddable":true,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/comments?post=58363"}],"version-history":[{"count":3,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/posts\/58363\/revisions"}],"predecessor-version":[{"id":58370,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/posts\/58363\/revisions\/58370"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/media\/57654"}],"wp:attachment":[{"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/media?parent=58363"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/categories?post=58363"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/tags?post=58363"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}