Kuala Lampur:The financial sector successfully intercepted approximately RM1.9 billion in attempted fraudulent transactions in the first half of 2026, exceeding the RM1.2 billion prevented throughout the entire year of 2025.

According to BERNAMA News Agency, Bank Negara Malaysia (BNM) governor, Datuk Seri Abdul Rasheed Ghaffour, revealed that over RM37 billion worth of assets have been recovered in the past five years. He noted that numerous complex financial crime cases have been investigated and prosecuted, involving multiple agencies, highlighting the nation's collaborative efforts.

He remarked that it has been 25 years since Malaysia introduced the Anti-Money Laundering, Anti-Terrorism Financing, Anti-Restricted Activity Financing, and Proceeds of Unlawful Activities Act 2001. Over these years, Malaysia has evolved from a traditional Anti-Money Laundering (AML) framework to a comprehensive regime that addresses all forms of financial crimes.

Abdul Rasheed emphasized that this progress is supported by stronger laws, institutions, and a better understanding of risks and supervisory approaches. These efforts have fortified Malaysia's AML, Countering the Financing of Terrorism, and Countering Proliferation Financing regime, leading to positive recognition in the 2025 Mutual Evaluation.

He also noted that about 95 percent of online fraud cases involve victims being tricked into transferring funds themselves. Additionally, artificial intelligence (AI) agents can bolster fraud campaigns by identifying vulnerabilities and enhancing cyberattacks.

Abdul Rasheed cited INTERPOL's estimation that AI-enabled fraud is 4.5 times more profitable than traditional methods, allowing criminals to act faster and with a broader reach. He stressed the need for the financial sector to automate detection processes to keep pace with the speed and scale of criminal activities.