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Bank Negara Malaysia has now announced that it has imposed an "Administrative Monetary Penalty" against Maybank and CIMB, due to non-compliance and prolonged service disruption. CIMB was fined RM760,000, while Maybank was fined RM4,320,000.
For Maybank, service disruptions between June 1, 2023 and May 31, 2024 are referred to, where Maybank's Regional Mobile Bank Platform and MAE applications experience prolonged disruptions and unplanned shutdowns. The investigation into the cause of the incident was found to be due to his inability to implement emergency system disruption recovery measures effectively and immediately, thus resulting in a serious impact on the experience of the online banking service interface for customers and other parties concerned. The steps taken by Maybank to further strengthen its application and infrastructure resilience as stipulated by BNM were also not complete at the time of the incident, thus affecting the recovery effect.
For CIMB, service disruptions on 8 and 9 April 2024 were referred to, causing CIMB customers to experience prolonged service disruptions involving electronic banking, ATMs, as well as debit and credit cards. BNM said the investigation into the cause of the incident found that CIMB's non-compliance was due to the failure of the response and recovery process to stop the system disruption immediately, thereby impacting the level of availability of essential banking services for customers and other parties concerned.
Both parties, Maybank and CIMB have paid this Administrative Monetary Penalty to Bank Negara Malaysia.