TNG Digital joins the National Fraud Portal to strengthen user protection
Aug 21, 2024
TNG Digital Sdn. Bhd. ('TNG Digital'), Malaysia's largest integrated fintech player, congratulates Bank Negara Malaysia (BNM) and Payments Network Malaysia (PayNet) on the successful launch of the National Fraud Portal (NFP). TNG Digital is honoured to have TNG eWallet as the first eWallet to be part of this critical initiative, underscoring its commitment to combating fraud and enhancing digital financial services for all Malaysians.
The NFP represents a significant step forward in the fight against financial fraud, fostering stronger collaboration among financial institutions and standardising procedures to manage mule accounts.
In October 2022, TNG eWallet was also the first eWallet to join the National Scam Response Centre (NSRC), demonstrating its commitment to safeguarding users against fraudulent activities. The NFP’s integrated platform further enhances these efforts through:
- Automated fund tracing and recovery: Financial institutions can quickly track stolen funds across the entire financial system through automated tracing, preventing further transfers and increasing the likelihood of fund recovery.
- Effective industry-wide information sharing and collaboration: Financial institutions can share information and intelligence on fraud incidents more effectively, enhancing overall fraud prevention efforts.
- Data-driven mule assessments: The NFP is supported by reliable data on mule accounts, facilitating improved identification, assessment, action, and monitoring of these accounts.
Being part of the NFP, TNG eWallet can now respond more swiftly and conduct more efficient investigations into fraud cases, ensuring that victims receive timely support in tracing and recovering lost funds.
As a licensed and regulated entity under BNM, TNG eWallet adheres to the most stringent security and compliance standards, providing users with peace of mind in every transaction. Our participation in both the NFP and NSRC reaffirms our commitment to safeguarding our users and building a secure digital financial ecosystem in Malaysia.
At TNG Digital, protecting our users is at the heart of everything we do. By actively supporting these anti-fraud initiatives, we aim to strengthen public trust in digital financial services, ensuring that Malaysians can transact with confidence, knowing that their financial security is our top priority.