Strengthening scam response, BNM and partners launch National Fraud Portal

SHAH ALAM - Bank Negara Malaysia (BNM), Payments Network Malaysia Sdn. Bhd (PayNet) and other financial institutions have launched the National Fraud Portal (NFP), an integrated platform to strengthen the operational capabilities of the National Scam Response Centre (NSRC).

The launch of NFP was a significant step forward in automating the end-to-end process of handling scam reports and tracing stolen funds.

Finance Minister II Senator Datuk Seri Amir Hamzah Azizan who officiated the portal at Sasana Kijang, BNM, yesterday emphasised the importance of sustained collaboration and coordination between the financial sector and law enforcement agencies.

"The collective effort, dedication and cooperation across the financial sector and law enforcement agencies must continue and build on the momentum achieved thus far.

"Ensuring a secure and safeguarded digital future is crucial in elevating our nation’s status and competitiveness as envisioned under the Ekonomi Madani framework," he said.

NFP aimed to strengthen coordinated efforts in combating financial scams.

It will improve the timeliness and effectiveness of tracing stolen funds from fraud victims.

Additionally, industry-wide procedures for reporting and managing mule accounts will streamline the identification of mules and facilitate the redressal of victims.

Meanwhile, BNM Governor Datuk Seri Abdul Rasheed Ghaffour said the NFP now provided NSRC with a fully automated process.

"With the NFP, the NSRC operations is now equipped with an end-to-end automated process from managing fraud reports, validating and tracing stolen funds, to sharing alerts among financial institutions to trigger prompt action," he said.

The integrated platform also enables several key functionalities.

It provides automated fund tracing and recovery, allowing financial institutions to swiftly track stolen funds across the financial system, prevent further transfers and enhance the likelihood of recovery.

It also facilitates effective industry-wide information sharing and collaboration, enabling institutions to exchange intelligence on fraud incidents.

The platform supports data-driven mule assessments by offering credible data on mule accounts, which improves the identification, assessment and monitoring of such accounts.

In addition, industry-wide procedures for reporting and handling mule accounts have been adopted.

These procedures enhance the quality of mule account data and standardise the industry's approach, ensuring affected account holders can still access basic financial services.

These measures complement BNM's comprehensive strategy to combat financial scams, which included a recent directive requiring financial institutions to treat victims of unauthorised online transactions fairly.

The directive mandated strong fraud investigation processes with increased transparency and disclosure obligations.

It emphasised joint accountability, addressing both institutional lapses and customer negligence to improve fraud control while reminding customers to stay vigilant.

Members of the public were urged to be vigilant at all times and follow the Amaran Scam Facebook page (facebook.com/amaranpenipuan) or the #JanganKenaScam website (jangankenascam.com) for the latest updates on financial scams.

Those who have fallen victim to a scam should immediately contact their financial institutions or the NSRC at 997.

In conjunction with the National Month celebration, Amir Hamzah together with The Association of Islamic Banking and Financial Institutions Malaysia (AIBIM) also launched the "Batik: Melirik Larik" art exhibition at the BNM Museum and Art Gallery.

The exhibition which is open to the public will run until Sept 30.