BNM may take action on banking services outage - deputy minister

PARLIAMENT | Bank Negara Malaysia (BNM) may take supervisory actions and impose penalties on violations of regulatory provisions under its supervision following the recent incidents of online banking services outage.

Deputy Finance Minister Lim Hui Ying said the appropriate follow-up actions, as provided under the Financial Services Act 2013 (FSA) and the Islamic Financial Services Act 2013 (IFSA), would depend on an assessment of the root cause and impact of the disruptions from the affected institutions.

“Regarding the recent incidents...