Over 9,600 mule accounts targeted as detection jumps 149 percent
More than 9,600 mule accounts have been flagged and detection by banks rose 149% since the National Fraud Portal began in April 2024, according to Prime Minister Anwar Ibrahim.
Prime Minister Datuk Seri Anwar Ibrahim announced that more than 9,600 mule accounts are now under scrutiny, with a 149 percent rise in detection by financial institutions since the National Fraud Portal was introduced in April 2024. He explained that Bank Negara Malaysia is strengthening cooperation with the National Scam Response Centre via the portal to accelerate the tracing of stolen money, pinpoint mule accounts and enhance information sharing with law-enforcement agencies.
New regulatory requirements have been placed on banks, digital banks and e-wallet operators to prevent their services from being abused for financial crime. These institutions must identify suspicious transactions, report suspected mule accounts and act immediately to block fund transfers according to established procedures. The measures aim to boost fraud detection and prevention capabilities in line with evolving tactics of crime syndicates.
Why it matters
The crackdown improves protection for consumers and the financial system against increasingly sophisticated fraud schemes.
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