The development of the digital arena also leads to one of the problems involving financial fraud. To overcome this, the government already has a number of initiatives, including the establishment of the National Scam Response Center (NSRC) before.
Further to that, Bank Negara Malaysia in collaboration with the financial sector stated that it is developing the National Fraud Portal - and it is expected to be completed by the middle of 2024.
The portal is expected to come with fund tracking automation capabilities. With the existence of this portal, it will further facilitate the period of detection, freezing and return of funds for those affected.
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CYBER LIFE