KUALA LUMPUR – The government has taken effective measures to curb online fraud and cybercrime, said law and institution reform minister Datuk Seri Azalina Othman Said.
According to the minister in the Prime Minister’s Department, they have established the National Scam Response Centre (NRSC) as one of the main steps in handling this issue and it has been operating since October 12, last year.
“Some of the efforts of NRSC include having a one-stop centre with a hotline (997) to receive and analyse people’s complaints, as well as to block, freeze, and confiscate fraudulent proceeds.
“Additionally, they also track and block the bank accounts that are being used as mule accounts, as well as phone numbers.
“(They also) conduct effective and fast investigations towards these offences,” she said in a parliamentary reply to Datuk Adnan Abu Hassan (Kuala Pilah-BN), in relation to online fraud activities and the government’s interventions.
Azalina also said that as of last year, the number of online fraud cases stood at more than 73,000, while losses are valued at over RM2 billion.
She added that in order to improve the transaction security of banking, Bank Negara Malaysia (BNM) will enforce a “kill switch” policy on all banking institutions.
“This will help enable the user to freeze the accounts immediately, including their ATM card, from being used when they suspect any suspicious activity,” said Azalina.
Besides that, she added that BNM has also advised other banks to take extra precautionary steps such as upgrading up the One Time Password (OTP) process through SMS to a stronger authentication for online transactions.
“They have also advised other banks to tighten fraud detection and provide a dedicated hotline for customers to report online fraud involving accounts and increase the response to reports.
“To implement an enforcement action more effectively, the government through enforcement agencies are now seriously looking into improving and strengthening some legal provisions that can be used to deal with this matter.
“Among the laws that are being examined are the Anti-Money Laundering Act, Anti-Terrorism Financing & Proceeds Of Unlawful Activities Act 2001, Penal Code, and the Criminal Procedure Code,” she added. – The Vibes, March 2, 2023
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