KUALA LUMPUR, Aug 20 — The National Fraud Portal (NFP) that was launched today is being improved to enable the use of artificial intelligence (AI) to detect suspicious transactions via predictive analysis.
Bank Negara Malaysia (BNM) governor Datuk Seri Abdul Rasheed Ghaffour said one of the NFP’s main characteristics is its modular design, which allows for continuous improvements to be made on the existing basic infrastructure.
He said although data shows the overall losses borne by financial fraud victims are considered small given the total domestic financial transactions, Malaysia cannot be complacent and instead be more vigilant to identify and overcome threats to safeguard the confidence in the national financial system.
Rasheed said cyber criminals will exploit technology to expand their tactics.
“Our journey to fight fraud is long and winding. Moving forward, I want to emphasise three main themes towards our efforts to combat financial fraud,” he said in his speech during the launch of the NFP here.
The themes are optimising technology, nurturing collaboration, and empowering consumers.
— Bernama
