Bank Negara Malaysia

KYC & CDD

BNM Issues Draft Rules on Using e-KYC Solutions for Onboarding

By Editors | 24/02/2023

BNM encourages the use of e-KYC solutions that leverage AI, machine learning or other forms of predictive algorithms to ensure accurate identification and verification.

Sustainable Finance

BNM Issues Consultation on New Financial Inclusion Framework

By Editors | 07/02/2023

BNM says the vision of the Framework is to provide a more expansive and holistic approach to elevate financial well-being in Malaysia.

Credit Risk

BNM Consults on Standardised Approach to Credit Risk Capital

By Editors | 25/01/2023

FIs are asked to provide feedback and complete an accompanying Quantitative Impact Study reporting template.

Cybersecurity

Telekom Malaysia Suffers Data Breach, Over 250,000 Users Affected

By Sanday Chongo Kabange | 04/01/2023

The government has instructed Malaysia’s NC4 and JPDP to investigate the breach and take necessary action. Maybank has also launched its own investigation into the breach.

Payments & Settlements

BNM Finalises New Rules for Electronic Money Issuers

By Editors | 03/01/2023

E-money issuers with more than 500,000 active users are subject to stricter governance, business continuity management and technology risk management requirements.

Payments & Settlements

BNM Finalises New Rules for Payment System Operators

By Editors | 22/12/2022

The policy document primarily sets out regulatory requirements covering governance and risk management, in alignment with the PFMI.

Capital Adequacy

BNM Consults on Capital Requirements for CCP Exposures

By Editors | 19/12/2022

Proposed framework sets out requirements for managing risks arising from a financial institution’s exposures to CCPs in their capacity as a clearing member or a client of a clearing member.

Fraud, Scams & Cybercrime

Malaysian Banks to Finish Implementing Anti-Scam Measures by June 2023

By Editors | 16/12/2022

More than 80 percent of banks have already implemented a 24/7 dedicated complaint hotline for customers to report incidents or suspicions of fraud.

ESG Data

Malaysia JC3 to Prioritise Work on Climate & Environmental Data

By Editors | 09/12/2022

The JC3 will work with data providers in 2023 to improve data accessibility, quality, comparability and consistency; and develop strategies to substantially reduce data gaps.