To combat scams Prime Minister Datuk Seri Anwar Ibrahim said during the Budget 2024 announcement that Bank Negara Malaysia in collaboration with the financial sector is developing the National Fraud Portal (NFP).
According to the Prime Minister, the portal is expected to be completed by the middle of 2024.
With the ability to automate fund tracking, Anwar says that this portal will hopefully speed up the timeline of tracking, freezing and returning funds.
In the meantime, he said relevant agencies are examining the need to amend laws including the Criminal Procedure Code to enable more effective action to be taken against syndicates and mule account holders, further speeding up the process of returning money to scam victims.
Next year, the Government will also increase the allocation for the National Scam Response Center (NSRC) to RM20 million instead of RM10 million to further increase the NSRC’s function in combating scam crimes.
Since its inception, it has handled over 49 thousand calls and managed to freeze up to RM60 million ringgit in transactions.
