Malaysian banks are bolstering their mobile security with a new feature called “malware shielding,” set to be implemented starting August 9, 2024. This initiative, announced by the Association of Banks Malaysia (ABM) and the Association of Islamic Banking and Financial Institutions Malaysia (AIBIM), is designed to enhance the safety of online banking by detecting high-risk malware and suspicious remote access on users’ devices. When a threat is identified, the feature will temporarily restrict access to the banking app to prevent unauthorized transactions and safeguard customers’ funds.
The malware shielding feature will be integrated into the mobile apps of several major banks, including Alliance Bank, CIMB, Maybank, HSBC, and others. According to ABM chairman Datuk Khairussaleh Ramli, the feature activates only when the app is launched and does not run continuously in the background. This approach aims to minimize disruption while providing robust protection against potential malware scams and unauthorized access.
Bank Negara Malaysia’s governor, Datuk Seri Abdul Rasheed Ghaffour, has endorsed this move, emphasizing the shared responsibility in the fight against online scams. He praised the banks for their proactive measures and encouraged the public to remain vigilant, particularly against downloading apps from unofficial sources. The new feature reflects a growing commitment to improving cybersecurity within Malaysia’s financial sector.
Customers are advised to contact their respective banks for detailed information on how the malware shielding feature will be implemented. This new security measure is part of a broader effort to ensure a more secure online banking environment and to protect users from the increasing threat of cybercrime.
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