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Bank Negara: nation's payments systems remain secure

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KUALA LUMPUR: Bank Negara has assured users that the nation's payment systems remain secure following a potential data breach incident involving iPay88 (M) Sdn Bhd, a company providing payment gateway services to banks and merchants.

The central bank said in a statement that forensic investigations on the incident are ongoing.

It said the breach originated from and is confined to iPay88's payment card systems and does not involve vulnerabilities in the banks' systems.

"Financial institutions in Malaysia also observe strong authentication methods for online card transactions, including prompting cardholders for additional confirmation of certain transactions considered to be more risky.

"This reduces the risk of fraudulent transactions occurring. For non-authenticated transactions, particularly purchases from overseas merchants, customers will not be liable for any fraudulent or unauthorised transactions that may arise from this incident," it said.

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Bank Negara said it has instructed banks to immediately notify affected cardholders of additional protective measures to further protect them against risks of fraudulent or unauthorised transactions.

It said banks have also heightened their fraud risk management and monitoring of suspicious or fraudulent activities for affected cards.

Customers are advised to immediately notify their banks if they observe any irregular or unauthorised transactions on their cards.

For further enquiries or complaints, members of the public can contact BNMTELELINK at 1-300-88-5465 or to submit via https://telelink.bnm.gov.my/


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