Bank Negara Malaysia (BNM) is launching a new National Fraud Portal (NFP) as part of the ongoing #JanganKenaScam campaign. The goal, as always, is to educate Malaysians on the various scams that are occurring with folks, and how they can combat these fraudsters.
On a sidebar, it is important to note that the NFP is not readily accessible to the public. Specifically, the new portal serves more as an aid for the government body, allowing it to streamline the process of expediting an investigation into a potential scam. As it stands, the existing challenges that is being faced by BNM and banks include sequential tracing, closing gaps in data tracing, and multiple sources of mule account information.
To that end, BNM says that the NFP, which again, is embedded to the Scam Response Centre (NSRC), would provide the latter the capability to trace stolen funds across multiple FIs and payment systems, plus an increased rate of earmarked stolen funds. At this stage, it says that it should be able to generate traces of stolen funds from one or more accounts; flag suspicious accounts for further validations; and then record actions taken by each financial institution.
The game changer here, according to BNM, is the speed in which the NFP allows the NSRC to go through these steps, which it says is much, much faster than what the NSRC was capable of doing two years ago.
If you suspect that you’re a victim of fraud or you know someone that is about to become a victim of online fraud, you can contact the NSRC at 997.
