KUALA LUMPUR, Oct. 6 (Xinhua) -- The financial sector has prevented approximately 1.9 billion ringgit (about 460 million U.S. dollars) in attempted fraudulent transactions in the first half of 2026, surpassing the 1.2 billion ringgit prevented throughout 2025, the country's central bank chief said on Tuesday.
Additionally, more than 37 billion ringgit worth of assets have also been recovered in the past five years, Bank Negara Malaysia Governor Abdul Rasheed Ghaffour said during his opening remarks at the International Conference on Financial Crime and Counter Terrorism Financing (IFCTF) 2026.
Abdul Rasheed also cautioned that artificial intelligence agents can power fraud campaigns, identify vulnerabilities and amplify cyberattacks, sparking an arms race between enforcement agencies and criminals.
The IFCTF 2026 brings together regulators, enforcement agencies, financial institutions and technology specialists to examine how shared intelligence can lead to earlier detection and intervention. ■
