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.
January 5, 2023More than 80 percent of banks have already implemented a 24/7 dedicated complaint hotline for customers to report incidents or suspicions of fraud.
December 16, 2022BNM said banks are giving their "full commitment" and making progress in implementing stronger controls and safeguards against financial scams.
November 3, 2022The iPay88 breach will be raised in a Cabinet meeting to discuss a proposal to establish a Royal Commission of Inquiry to investigate the incident.
August 15, 2022BNM will take supervisory and enforcement actions against banks that fail to protect their customers from fraud risk.
June 13, 2022Besides an NSFR relaxation, banks can drawdown on the capital conservation buffer, operate below 100% LCR, and utilise regulatory reserves they have set aside.
March 26, 2020Effective 1 June, Malaysian banks will impose a zero percent GST on all banking products and services, previously subject to 6% GST.
June 4, 2018