Internet banking losses decline
New Straits Times 16 Jan 2013

KUALA LUMPUR: Malaysia's Internet banking losses showed a decline last year, after continuous effort by banks to ensure the safety of e-banking services.

According to Bank Negara Malaysia assistant governor Abu Hassan Alshari Yahaya, losses in Internet banking due to fraud totalled RM3.2 million last year, compared with RM3.4 million in 2011.

Abu Hassan, however, cautioned consumers to remain vigilant.

"There are different kinds of modus operandi in Internet banking where we need to be cautious," he told reporters after launching the e-Banking Fraud Awareness Campaign here yesterday.

The Association of Banks in Malaysia (ABM) chairman Datuk Seri Abdul Wahid Omar said as socially responsible service provi-ders, banks are investing heavily every year to ensure that their e-banking facilities are safe for consumers.

"Not only have we ensured up-to-date security systems and protection measures for customers, there is also constant monitoring as well as exchange of ideas and findings to keep ahead of the perpetrators of such crime," he said.

The awareness campaign is a collaborative effort spearheaded by 13 commercial banks, key member banks of the Association of Islamic Banking Malaysia, Cybersecurity Malaysia, the Malaysian Communications and Multimedia Commission and the Royal Malaysian Police.

It will run nationwide for six months, and is aimed at creating awareness among the general public on current e-banking scams.

The awareness campaign will be via advertising platforms such as print, electronic and media.

The banks will also leverage on their respective online presence to reinforce the campaign through their websites as well as branch networks for display of posters and distribution of pamphlets.