#Budget2023: RM73 Million Allocated For Strengthening Cybersecurity & Combat Rise In Scams
Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz announced that the government will be making efforts to set up a National Scam Response Centre (NSRC)
During the tabling of Budget 2023 today, 7 October, the Finance Minister announced that RM73 million will be allocated to the NSRC and will have the Royal Malaysia Police (PDRM), Bank Negara Malaysia (BNM), Malaysian Communications and Multimedia Commission (MCMC), National Anti-Financial Crime Centre (NFCC), and financial institutions involved in its efforts.
The NSRC was proposed in a bid to reduce the mounting cases of online scams happening in Malaysia and and the special unit will be established by this month.
SMS one-time passwords (OTPs) will also be abolished as announced previously in September
The Finance Minister also announced that the government will be taking steps to halt the use of SMS OTPs for high-risk online transactions.
Zafrul also announced that the government will be implementing a platform for citizens to report any online scams
The platform will enable the public to make official reports on any online scams they may encounter.
Stay tuned for our overview story of #Budget2023!
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