Banks in Malaysia are taking measures to ensure greater security for its customers against financial scams. Member banks of The Association of Banks in Malaysia (ABM) and The Association of Islamic Banking and Financial Institutions Malaysia (AIBIM) have begun implementing malware shielding technology on their mobile banking applications.<\/p>\n
This malware shielding technology is a form of preventative security that is embedded within the banks\u2019 native mobile banking apps. It has the ability to detect high-risk malware in scenarios such as malicious APK files and suspicious remote monitoring access on customers\u2019 devices.<\/p>\n
The technology will also help by detecting malicious applications or suspicious functionalities by warning or stopping customers from performing banking activities on compromised devices.<\/p>\n
\u201cThe fight against online scams is a shared responsibility. We welcome this effort by the banks to enhance their online banking apps with malware-shielding technology to curb malware-related scams,\u201d said Dato\u2019 Seri Abdul Rasheed Ghaffour, Governor of Bank Negara Malaysia.<\/p>\n
According to Dato’ Khairussaleh Ramli, Chairman of The Association of Banks in Malaysia, malware shielding is only activated upon the customer launching the mobile banking app, and does not run in the background 24\/7. This is to ensure that customer privacy is maintained.<\/p>\n
As for how the shielding technology will work, once a customer\u2019s device is flagged as potentially compromised, temporary restrictions on using the bank’s mobile app might be implemented.<\/p>\n
This technology helps identify potential vulnerabilities that could be exploited by malicious actors.<\/p>\n
While the implementation of these safeguards will help increase resistance to malware and scams, the banks urge customers to continue to protect themselves by observing good cyber hygiene rules and mobile banking habits, such as the following:<\/p>\n
Last year, banks in Malaysia launched the #JanganKenaScam national awareness campaign to equip customers with the knowledge to identify red flags associated with various scam tactics.<\/p>\n","protected":false},"excerpt":{"rendered":"
The member banks of ABM and AIBM have begun implementing malware shielding technologies on apps to help prevent financial scams.<\/p>\n","protected":false},"author":58,"featured_media":38574,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[106,216,29],"tags":[578,579,2428,522,982],"class_list":["post-64632","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-akaun-simpanan","category-news-updates","category-savings-account","tag-abm","tag-aibim","tag-banking-app","tag-bnm","tag-news"],"acf":[],"yoast_head":"\n