The Bank of Thailand (BOT) and Bank Negara Malaysia (BNM) have signed a Memorandum of Understanding (MoU) to enhance cybersecurity efforts and address rising threats to digital financial systems. The agreement aims to foster greater collaboration between the two central banks, emphasizing shared best practices and boosting their collective resilience to cyber threats. The MoU is intended to improve information-sharing, strengthen responses to digital fraud, and build capacity for handling cybersecurity challenges across both nations’ financial sectors. This partnership marks a significant step in safeguarding the financial infrastructures of Thailand and Malaysia.
Signed by BOT Governor Dr. Sethaput Suthiwartnarueput and BNM Governor Dato’ Seri Abdul Rasheed Ghaffour, the MoU signals an intensified effort to address growing cyber risks in the region. Both governors emphasized the importance of regional cooperation in combating digital fraud and cyberattacks. The collaboration aims to create stronger defenses and promote the continuous exchange of knowledge and expertise between the two central banks. By working together, the banks aim to improve the security of their financial ecosystems and better protect consumers from emerging cyber threats.
As part of the agreement, the central banks plan to enhance their joint operations and response capabilities to prevent and address cybersecurity breaches.
Governor Ghaffour stressed that BNM is committed to improving financial institutions’ resilience against increasingly sophisticated cyber threats. Governor Suthiwartnarueput echoed this sentiment, noting that close cross-border cooperation is essential for ensuring the stability and security of the financial systems.
The MoU also lays the groundwork for future collaborative initiatives aimed at boosting cybersecurity defenses.
The partnership is aligned with a broader push by Southeast Asian nations to strengthen financial sector security amid the growing digital transformation. With cyberattacks becoming more complex, BOT and BNM aim to enhance resilience by launching joint training programs, expert dialogues, and exercises.
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