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KUALA LUMPUR, Jan 26 — Bank Negara has imposed a RM1 million administrative monetary penalty on entity-accent entity-underline inline cursor-pointer align-baseline Bank Kerjasama Rakyat Malaysia Berhad(Bank Rakyat) for failing to meet required cybersecurity and customer data protection standards. The central bank said the penalty, imposed on Jan 20, 2026, followed the discovery of multiple breaches under its Risk Management in Technology Policy Document (RMiT PD) and Management of Customer Information and Permitted Disclosures Policy Document (MCIPD PD). The violations were uncovered after a cybersecurity incident in which an external threat actor gained unauthorised access to the bank’s IT infrastructure. Investigations found that the breaches stemmed from inadequate cybersecurity controls and weaknesses in incident response. BNM said Bank Rakyat failed to implement robust cybersecurity measures and did not sufficiently safeguard customer information as required under regulatory guidelines. The bank has since taken remedial steps to strengthen its cybersecurity framework, including improvements to its information and communication technology (ICT) controls, resources and governance. In determining the penalty, BNM considered several factors, including the severity of the breaches, the bank’s lack of reasonable care in ensuring compliance, its existing control environment, past compliance record, and actions taken after the incident to prevent recurrence. Bank Rakyat paid the RM1 million penalty on Jan 26, 2026. BNM reiterated that all financial institutions must comply with its technology risk management and customer information policies, warning that it will take firm supervisory and enforcement action against any institution that fails to meet regulatory requirements.

BNM Fined Bank Rakyat RM1 Million Over Cybersecurity Breaches

KUALA LUMPUR — Bank Negara has imposed a RM1 million administrative monetary penalty on Bank Kerjasama Rakyat Malaysia Berhad(Bank Rakyat) for failing to meet required cybersecurity and customer data protection .... read more

NEC Appoints New Managing Director to Drive Next Phase of Growth in Malaysia

KUALA LUMPUR, Malaysia, April 1, 2026 /PRNewswire/ — NEC Corporation of Malaysia today announced the appointment of Takayuki Inaba as Managing Director, effective immediately. Inaba, who concurrently serves as President .... read more

Patient Trust and Quality Care Power Malaysia’s Rising Healthcare Reputation

KUALA LUMPUR, Malaysia, April 1, 2026 /PRNewswire/ — As Malaysia’s healthcare ecosystem continues to strengthen its reputation for quality and innovation, Pantai Hospital Kuala Lumpur (PHKL), part of the IHH .... read more

CSTS Enterprises and JETBAY Announce Strategic Partnership to Elevate Sports and Leisure Travel Experiences

HONG KONG, April 1, 2026 /PRNewswire/ — CSTS Enterprises, together with its subsidiary Connexus Travel, announced a strategic partnership with JETBAY, Asia’s largest private jet charter platform, to deliver premium, .... read more

PolicyStreet Secures Second Sovereign Wealth Fund Backing in Series C First Close

KUALA LUMPUR, 1 APRIL 2026 — PolicyStreet, a Malaysian-born regional insurtech company, has secured RM84 million (US$21 million) in the first close of its Series C funding round, led by .... read more

Countdown to a Global Stage: Thailand Fully Prepares to Host the 2026 IMF-World Bank Annual Meetings

BANGKOK, /PRNewswire/ — The IMF–World Bank Group Annual Meetings are held every October, rotating between the institutions’ headquarters in Washington, D.C., United States (for two consecutive years) and a selected .... read more

Ringgit opens higher as US signals withdrawal from Iran

KUALA LUMPUR — The ringgit opened higher against the US dollar on Wednesday as global sentiment improved on hopes that the US may be leaving Iran in a matter .... read more

AIA launches ProsperLife Insurance Plan: Lifelong protection for every stage of life

HONG KONG, /PRNewswire/ — AIA Hong Kong & Macau announces the launch of the ProsperLife Insurance Plan, a participating whole life insurance plan designed to support customers and their families’ .... read more

KUALA LUMPUR, April 1 — Malaysia’s fintech sector continues to gain momentum as a key driver of the nation’s digital economy, with industry leaders highlighting ongoing efforts to accelerate innovation and financial inclusion. During a recent engagement, Sheyantha Abeykoon, Group Chief Executive Officer of Boost Holdings, and Ungku Liza, Deputy CEO of Boost Bank, presented the latest developments and strategic initiatives undertaken by the digital bank in advancing the fintech landscape. The session underscored the growing importance of fintech in propelling Malaysia’s digital economy to greater heights, particularly in enhancing accessibility, efficiency, and innovation within the financial ecosystem. Efforts by Boost Bank were positively received, with recognition given to its role in delivering tangible impact across the sector. Its initiatives are seen as contributing significantly to expanding digital financial services and supporting broader economic growth. The engagement reflects continued collaboration between stakeholders to ensure Malaysia remains competitive in the rapidly evolving global fintech space, while fostering a more inclusive and resilient digital economy.

Boost Bank Drives Fintech Growth as Malaysia Accelerates Digital Economy Agenda

KUALA LUMPUR, April 1 — Malaysia’s fintech sector continues to gain momentum as a key driver of the nation’s digital economy, with industry leaders highlighting ongoing efforts to accelerate innovation .... read more

Nestlé Professional Debuts NESCAFÉ Fusion 3, Helping Businesses Cut Energy Use in Singapore

SINGAPORE, /PRNewswire/ — As Singapore businesses prepare for continued pressure from rising energy prices and growing sustainability expectations, Nestlé Professional Singapore today introduced the NESCAFÉ Fusion 3, a next-generation bean-to-cup .... read more

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