According to police statistics, more than 71,000 scams amounting to over RM5.2 billion in losses were reported between 2020 and May 2022. In response, Bank Negara is introducing a slew of initiatives to curb financial scams, including instructing banks to migrate away from SMS OTP authentication. How effective are these measures? We get reactions from Munira Mustaffa of Chasseur Group.

Image credit: Shutterstock

Produced by: Sim Wie Boon

Presented by: Shazana Mokhtar, Wong Shou Ning

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Categories:  technology

Tags:  phone authentication,  cybersecurity,  otp,  online scams,  bank negara malaysia,