The National Scam Response Center (NSRC) has been established as an operational center to coordinate rapid response to online financial fraud. As of August 2024, a total of 122,603 complaint calls have been received by the NSRC since its establishment in October 2022. According to the Ministry of Finance (MOF), the types of complaints received are for fraud and advisory services to the public with a total reported loss of RM371 million.
Notifying the matter, Bank Negara Malaysia (BNM) set the requirement for banks to ensure that the control and security standards of online banking activities are always strengthened in line with best industry practices. The impact that can be seen from the measures in question shows a positive impact, while also revealing the implementation of additional measures previously successfully blocking fraudulent transactions worth RM383 million for the year 2023.
MOF informed that continuous action was also taken to strengthen the security of internet banking services through a number of initiatives such as improving the eKYC policy and enforcing a "kill switch" mechanism for users to take immediate action to freeze their own accounts in the event of suspicious activity.
For the record, the 2025 budget presented in the Dewan Rakyat on 18 October announced that a sum of RM20 million had been allocated to further strengthen the centre. Next is the best step in the fight against online fraud.