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The Association of Banks in Malaysia (ABM) and the Association of Islamic Banks in Malaysia (AIBIM) today issued a joint statement, saying that banks under these associations will introduce new security updates to their banking applications.
This update is to introduce an anti-malware feature to the banking application. According to the statement issued, this anti-malware feature comes with the ability to detect if there is malware installed on a device, such as APK files and remote control software installed without the user's knowledge.
When malware is detected in a user's device, this banking application will warn the user not to log into their account, or perform banking transactions and to ensure that the malware is removed from their device.
To date, the Malaysian banking industry has already implemented a number of reforms such as no longer using OTP SMS for transaction verification and introducing a 24-hour cooling-off period for each new online banking account registration, as well as changing devices to ensure that there are no fraudulent issues regarding transactions made. .
This malware detection feature will be introduced periodically, and will depend on the banks you use.