KUALA LUMPUR: Malaysian households and businesses have performed more than 300 million financial transactions worth RM15 trillion via electronic channels (e-channels) mainly from internet banking, the Assistant Governor of Bank Negara Malaysia Abu Hassan Alshari Yahaya said at the launch of e-Banking Fraud Awareness Campaign today at Sasana Kijang, Kuala Lumpur. He said that most the online transactions were generated from fund transfers, bill payments, top-up for prepaid cards, purchases of phone cards and payments for investments in the capital market.
The fundamental to the growth of internet banking over the years at an average annual growth of 23.4 percent is the confidence which the public has in its convenience and security, Abu Hassan added.
The e-Banking Fraud Awareness Campaign was initiated by the Association of Banks in Malaysia to help create greater awareness of online fraud with the cooperation of CyberSecurity and the Police Force.
by Terry Brown