Banking sector and PayNet to pilot universal fraud alerts by early 2027
Bank Negara Malaysia and PayNet will introduce an industry-wide fraud-alert system, with pilot testing among selected banks in the first half of 2027.
At the International Conference on Financial Crime & Counter Terrorism Financing 2026, Governor Datuk Seri Abdul Rasheed Ghaffour announced a joint effort by the banking industry and PayNet to develop a fraud-alert capability that warns banks and customers before a transaction is completed. A pilot involving a few banks is planned for the first half of 2027. The alerts are designed to make users pause, think and verify, helping curb financial crime.
