01/09/2025

MONDAY | SEP 1, 2025

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BANKING & INSURANCE

Scam awareness among M’sians on the rise: Survey

Maybank to accelerate

digitalisation journey with Microsoft’s help PETALING JAYA: Malayan Banking Bhd (Maybank) has entered into a partnership with Microsoft to accelerate its digital transformation journey and reinforce its commitment in enhancing customer experience. The partnership will see Maybank embracing the power of Microsoft’s colla boration suite, cloud, artificial intelli gence (AI) and security capabilities to drive customer centricity, enhance operational agility and foster a culture of continued innovation. This partnership is for a value of about RM1 billion over five years, which would include upgrade of existing capabilities to Microsoft 365. Maybank will adopt Microsoft Azure as one of the main cloud platforms for some of its most strategic systems, functions and data workloads. To amplify productivity and intelli gence, Maybank will roll out Microsoft 365 Copilot across all its 44,000 em ployees. This integration will empower Maybank personnel with expansive AI powered capabilities. Out of the box, Microsoft 365 Copilot acts as an intelligent assistant that can offload complex tasks from the employees. Microsoft 365 Copilot will also enable Maybankers to innovate further and drive improvement in the overall customer experience, in efficiency and effective ness of operations. The partnership involves leveraging Microsoft’s advanced security tools. It will also explore the establishment of a centre of excellence for both companies to collaborate on developing cloud and AI powered innovation, and in nurturing in house talents in these areas. Maybank president and group CEO Datuk Seri Khairussaleh Ramli said, “This strategic partnership with Microsoft is a leap forward in our digital trans formation journey beyond our M25+ strategy. It’s not just about technology; it’s about thinking ahead on how we can better serve our customers, improving our ways of working, and accelerating innovations. “With the right technology streng thening our core parts of our business, we are building a truly agile, faster, and more competitive environment for sustainable growth and long-term value creation for all our stakeholders and customers.” Meanwhile, Microsoft Asean president Mayank Wadhwa said, “Malaysia stands at a pivotal moment in its digital journey, and Maybank is leading by example. “By embedding intelligence into the core of financial services, Maybank is transforming how it serves its customers while setting a powerful example for the industry across Asean. “At Microsoft, we are committed to supporting this bold vision, one that humanises innovation, empowers people, and accelerates inclusive economic growth for the region.” The partnership will cover Maybank’s presence across Asean and beyond, and underscores Maybank’s commitment to drive digitalisation and AI adoption in Asean.

respondents scam-related information on platforms such as Facebook and Instagram. Encouragingly, seven in 10 Malaysians now actively share scam warnings within their own networks, particularly on WhatsApp, signalling that public vigilance is extending beyond individual knowledge to community-based prevention. Beyond bank-led efforts, three in five respondents recalled seeing scam awareness messages via media coverage or public education campaigns, reflecting a wider ecosystem of vigilance that supports the industry’s outreach. Aibim president Datuk Mohd Muazzam Mohamed said: “The results indicate that our awareness efforts are yielding positive outcomes, but we must not become com placent. Scammers are constantly evolving their tactics, and our response must adapt in tandem. We want to equip Malaysians not only with information, but also with practical instincts and tools they can rely on in moments of uncertainty. As a sector, we are committed to ensuring that customers feel supported and protected every step of the way.” Banks in Malaysia have also collectively implemented five key anti-scam measures across the industry, including – migration from SMS one-time passwords to more secure forms of authentication for online banking trans actions; tightening of fraud detection rules and triggers for blocking suspected scam trans actions; verification and a cooling-off period for first-time enrolment of online banking services or secure devices; restriction of authentication apps to a single mobile device per account holder and 24/7 dedicated complaint channel/hotline for customers to report incidents or suspicions of scam/fraud. encountering

said the #JanganKenaScam campaign has played a key role in improving public awareness and emphasised the need to move beyond education and towards behavioural readiness. “We are seeing a positive shift in public awareness and trust, but we also recognise that scammers exploit fear and urgency to bypass rational thinking. From the survey, we saw that 71% of respondents feared losing money if scammers’ instructions were not followed, as the primary factor in scam cases. “Our responsibility as banks is not just to educate, but to help customers stay calm and make wise decisions under pressure. This means ensuring real-time safeguards are in place and accessible when it matters most.” Through #JanganKenaScam launched in 2023, member banks of ABM and Aibim have continuously reminded customers to stay vigilant and avoid reacting impulsively to unsolicited messages. More than half of the campaign messages were seen via banking apps, making them one of the most effective touchpoints for reinforcing scam alerts. Push notifications also served as a strong source of information, with seven in 10 respondents reading scam alerts from their respective banks’ mobile apps. Malaysians are also expressing stronger confidence in the protection provided by their banks. 76% of respondents were satisfied with their banks’ overall effectiveness in safe guarding customers from scams, up 13% from the previous survey. Meanwhile, three in five respondents found their banks to be helpful after a scam had occurred, suggesting that post incident support is becoming a trusted part of the response. Social media remains the most common source of scam awareness, with 52% of

MiDAS mobilises private capital into pro ductive, real-sector enterprises, particularly underserved micro, small and medium enter prises – aligning with Malaysia’s national agenda for inclusive, sustainable and values-driven economic development. Bank Muamalat non-executive director and MISB chairman Md Khairuddin Arshad said: “MiDAS strengthens Malaysia’s Islamic finance ecosystem by connecting private wealth with economic sectors that are vital yet underserved. It reflects our commitment to supporting financial inclusion, entrepreneurship, and sustainable growth – core to the national vision for shared prosperity. This is a timely solution that empowers investors to pursue meaningful outcomes while building a resilient economy.” MiDAS is structured to provide investors with access to high-quality Islamic private credit instruments, sourced via recognised market operators registered with the Securities Commission Malaysia. It introduces a new asset class that remains resilient against public market volatility, while upholding syariah integrity, portfolio diversification and capital preservation. Muamalat Invest CEO Khadijah Sairah Ibrahim said, “MiDAS is more than just an investment fund, it’s a channel for purposeful capital. It delivers stable, growth-oriented returns while PETALING JAYA: Nine out of 10 Malaysians say they actively read scam-related alerts, with satisfaction levels rising to 73% compared to the previous public survey on scam awareness. This was disclosed in the third annual public survey on scam awareness released recently by the Association of Banks in Malaysia (ABM) and Association of Islamic Banking and Financial Institutions Malaysia (Aibim). The study was commissioned by the banking industry and conducted by Rakuten Insight between March and April 2025, gathering responses from 1,000 Malaysians across the country. The latest survey reflects continued momentum in public scam awareness and growing trust in the banking sector’s protective measures, supported by the ongoing #JanganKenaScam awareness campaign. The survey demonstrates growing literacy in recognising scam tactics with 92% recognised the risks of installing unsolicited APK files; 79% would avoid clicking on links in SMS or emails claiming to be from banks and 85% of Malaysians were able to correctly identify a fake SMS. The survey also revealed that 82% would immediately contact their bank’s 24/7 hotline or disable their cards if they were compromised and 77% would disable or freeze their card via online or mobile banking features ABM chairman Datuk Khairussaleh Ramly o Nine in 10 respondents say they read alerts from banks, trust in protective measures increasing

Bank Muamalat unit launches MiDAS for sophisticated investors PETALING JAYA: Muamalat Invest Sdn Bhd (MISB), a wholly owned subsidiary of Bank Muamalat Malaysia Bhd, has launched Muamalat-i Dana Sinar (MiDAS) – a pioneering syariah-compliant private credit wholesale fund tailored for sophisticated Investors.

From left: Khadijah, Md Khairuddin and Bank Muamalat president and CEO Khairul Kamarudin at the launch.

MiDAS plays a pivotal role in narrowing financing gaps, catalysing entrepreneurship and building economic resilience. More than a fund, MiDAS exemplifies how Islamic finance can drive real world impact: promoting equitable access to capital, enabling inclusive growth, and delivering financial returns with integrity.

meeting real financing needs across Malaysia’s entrepreneurial ecosystem. Our vision is to offer value-based solutions that empower investors to succeed with purpose and contribute meaning fully to nation-building.” By unlocking capital for MSMEs, which represent over 97% of Malaysian businesses,

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