Tag: Bank Negara

YB Fahmi Chairs Strategic Meeting as Online Scam Losses Surge Past RM300 Million

KUALA LUMPUR, 10 APRIL — Communications Minister Fahmi Fadzil today chaired a Strategic Coordination Meeting on Tackling Scam Issues at Angkasapuri, Kota Media, as authorities intensify efforts to combat the growing threat of online fraud. The meeting focused on rising trends in online scam risks and their financial impact, particularly involving online fraud and non-existent investment schemes, which have shown a significant increase annually since 2023. Participants agreed on several immediate measures, including enhanced data sharing, strengthening investigation and prosecution processes, and improving the legal framework. Efforts will also be made to reinforce staffing at the National Scam Response Centre (NSRC) to boost response capabilities. According to figures presented at the meeting, online scam cases alone recorded losses exceeding RM134 million in 2026, while non-existent investment scams accounted for more than RM188 million in losses within just the first three months of the year. Fahmi urged Malaysians to remain vigilant against online scam tactics by verifying information through legitimate sources. He cautioned the public against being easily deceived by offers that appear too good to be true and stressed the importance of protecting oneself and family members. Victims or those suspecting scams are advised to immediately report to the NSRC via the hotline 997. The meeting was attended by Communications Ministry Secretary-General Datuk Abdul Halim Hamzah, Commercial Crime Investigation Department (CCID) Director at Bukit Aman Rusdi Mohd Isa, as well as senior officials from the Ministry of Finance, Ministry of Home Affairs, Attorney General’s Chambers, Bank Negara Malaysia, National Security Council, National Cyber Security Agency, Malaysian Communications and Multimedia Commission, Securities Commission Malaysia, National Financial Crime Prevention Centre, NSRC, representatives from the banking industry, and telecommunications companies. -- Minutes MY / Igneseous Noris -- Photo: FB Fahmi Fadzil

KUALA LUMPUR, 10 APRIL — Communications Minister Fahmi Fadzil today chaired a Strategic Coordination Meeting on Tackling Scam Issues at Angkasapuri, Kota Media, as authorities intensify efforts to combat the growing threat of online fraud. The meeting focused on rising trends in online scam risks and their financial impact, particularly involving online fraud and non-existent […]

Bank Negara Malaysia Keeps OPR at 2.75% Amid Global Uncertainty

Kuala Lumpur, March 5, 2026 — The Monetary Policy Committee (MPC) of Bank Negara Malaysia has decided to maintain the Overnight Policy Rate (OPR) at 2.75%, citing steady domestic economic growth and moderate inflation despite rising global uncertainties. The decision, announced after the committee’s latest policy meeting, reflects the central bank’s view that the current […]