Securing Malaysia’s Digital Banking:Compliance and Fraud Prevention with VIDA
Ever received an OTP you didn’t request? That’s not a glitch — that’s fraud.
In 2023, fraud in Malaysia cost over RM1.2 billion, with cybercriminals using SIM swap fraud, phishing, and even deepfake AI to hijack accounts and steal identities. From fake SMS to voice cloning, digital crime is more advanced — and more dangerous — than ever.
Passwords, SMS OTPs, and outdated 2FA? They’re no longer enough. Bank Negara Malaysia is already phasing out SMS OTPs by 2025 due to their vulnerabilities.
What you will get from this eBook:
✅ The real deepfake meaning and how deepfake apps are used for identity fraud ✅ Why SIM swap fraud is booming in Malaysia ✅ What is fraud in today’s AI-driven digital world — and how to stop it ✅ Best practices from Bank Negara’s RMiT guidelines ✅ How to adopt biometric and PKI-based authentication to stop fraud before it happens
Discover how to stop account takeovers before they happen.