Budget 2023: Mandatory kill-switch to curb online fraud, RM10mil allocated to bust scams

KUALA LUMPUR: The National Scam Response Centre (NSRC) has been allocated RM10mil to combat rising online fraud as 25,000 cases were recorded in 2022, costing RM850mil, says Datuk Seri Anwar Ibrahim.

The Prime Minister in tabling the revised Budget 2023 on Friday (Feb 24) said Bank Negara will require all banks to add a "kill switch" that will let account holders freeze their accounts when suspicious activity is detected.

Themed "Membangun Malaysia Madani (Developing Malaysia Madani)”, Budget 2023 will in particular, focus on addressing the high cost of living, further strengthening the social safety net and enhancing the micro, small and medium enterprises (MSMEs) ecosystem.