BNM: Malaysian Banks and PayNet to Pilot Industry-Wide Fraud Alerts in 1H 2027

Bank Negara Malaysia said the country's banks and PayNet will pilot industry-wide fraud alert capabilities in the first half of 2027. The system will warn banks and customers of potential risks before a transaction is completed, drawing on data from across the financial network. PayNet has already flagged more than 1,600 suspicious accounts.

• Pilot with selected banks targeted for 1H 2027
• Alerts will warn of risks before a transaction is completed
• PayNet has flagged over 1,600 suspicious accounts
• BNM strengthened its technology risk and fraud prevention framework