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Malaysia Payment System Safe Amid Potential Data Breach: C.Bank

Aug. 12, 2022, 4:26 AM

Bank Negara Malaysia said iPay88’s potential data breach originated from and is confined to the firm’s payment card systems, according to a statement on its website.

  • Breach doesn’t involve vulnerabilities in banks’ systems; investigations still ongoing
  • Says Malaysia’s payment system remains safe, secure
  • Says has instructed banks to immediately notify affected cardholders of additional protective measures against risks of fraudulent or unauthorized transactions
    • Banks have also heightened their fraud risk management; monitoring of suspicious or fraudulent activities
  • “BNM takes a serious view of any incident that can affect confidence in the payment system, and will not hesitate to take necessary ...