KUALA LUMPUR, Oct 7 — Payment gateway services provider iPay88 (M) Sdn Bhd has been instructed by Bank Negara Malaysia (BNM) to undertake additional measures to further strengthen its cyber security controls and information technology infrastructure.
In a statement today, the central bank said following the completion of an independent forensic investigation in light of a potential data breach incident announced by iPay88 on August 12, 2022, the service provider has taken necessary containment and rectification measures to address gaps that were identified.
“These measures are aimed at ensuring that similar incidents do not recur in the future and to safeguard against future threats.
“BNM will continue to closely monitor iPay88’s implementation of these measures and where appropriate, undertake further supervisory or enforcement action,” it said.
BNM also directed banks and card issuers to maintain heightened vigilance over activities of cards that may be at risk, including contacting customers if any suspicious activities were detected through monitoring activities of their banks or card issuers.
“BNM would like to reassure members of the public that Malaysia’s banking and payment systems remain safe and secure.
“Under existing payment card rules, customers will not be liable for any fraudulent or unauthorised transactions, as long as customers have taken reasonable precautions to safeguard their payment cards,” it added.
For further enquiries or complaints, members of the public can contact BNMTELELINK at 1-300-88-5465 or https://telelink.bnm.gov.my/.
— Bernama
