Arabian Post Staff -Dubai
Malaysia has introduced the National Fraud Portal (NFP) to strengthen its fight against financial scams. The NFP, a technology-driven initiative, was launched by Second Finance Minister Amir Hamzah Azizan. It aims to streamline the detection and prevention of fraudulent activities by automating processes previously managed by the National Scam Response Centre (NSRC).
The new platform is a key part of Malaysia’s strategy to tackle online fraud. It integrates data from various financial sources, enabling real-time detection of suspicious transactions. This capability is expected to drastically reduce fraud detection times and prevent further losses. According to Amir Hamzah, even during its pilot phase, the NFP has already reduced the time to track fraudulent transactions by 75% and increased the monthly amounts flagged by financial institutions by 28%.
The NFP also includes enhanced data on mule accounts, which has led to a 14% increase in the detection rate of these fraudulent accounts. The platform is designed to assist not only in the detection of fraud but also in protecting victims from being denied essential financial services. This is achieved through coordinated efforts among financial institutions, ensuring that victims receive appropriate support.
The launch of the NFP underscores the government’s commitment to safeguarding the public against financial scams. Citizens are encouraged to stay vigilant and use resources such as the Amaran Scam Facebook page and the #JanganKenaScam website for updates on scam prevention.
This initiative positions Malaysia as a regional leader in fraud prevention, leveraging advanced technology to protect its citizens and maintain the integrity of its financial systems.
