PETALING JAYA: Banks in Malaysia are rolling out a feature to detect high-risk malware and suspicious remote access on customer devices, temporarily restricting access to the banking app when threats are identified.

In a statement released today (Aug 9), the Association of Banks Malaysia (ABM) and the Association of Islamic Banking and Financial Institutions Malaysia (AIBIM) labelled the feature malware shielding, adding that it will be embedded within the banks’ mobile apps.

According to both organisations, this feature aims to prevent unauthorised transactions, safeguard customers' funds, and prevent them from becoming victims of malware scams.

Banks that have enabled malware shielding on their mobile banking apps include Alliance Bank, AmBank, Bank Muamalat, Bank Simpanan Nasional, CIMB Bank, HSBC Bank, Maybank, MBSB Bank, OCBC Bank, Public Bank, RHB Bank, Standard Chartered, and UOB Bank.

“Emphasising customer privacy, malware shielding is only activated upon the customer launching the mobile banking app and does not run in the background 24/7," said ABM chairman Datuk Khairussaleh Ramli.

He added that customers' banking information and personal data will remain confidential.

Bank Negara Malaysia governor Datuk Seri Abdul Rasheed Ghaffour said the fight against online scams is a shared responsibility, welcoming the move by banks to enhance online banking apps with added security features.

"This helps to create a more secure banking environment for all Malaysians. We also urge members of the public to remain vigilant against requests to download apps from unofficial sources," he added.

Customers are encouraged to contact their respective banks for more information about the implementation of malware shielding.

Source: https://www.thestar.com.my/tech/tech-news/2024/08/09/malaysian-banks-to-restrict-access-to-banking-apps-on-compromised-devices-with-039malware-shielding039