Budget 2023: RM10mil Allocated to Fight Online Scams, All Banks to Have Kill Switch to Freeze Accounts

As the tabling for the Budget 2023 continues, PM10 has revealed more details about it.

Online scams are on the rampage, and PM10 has allocated a huge chunk of money to fight the rising online scams.

The government allocated RM10mil to The National Scam Response Centre (NSRC) in an effort to fight the rising online fraud. A total of 25,000 cases were recorded in 2022 alone, costing RM850mil.

“Bank Negara will require all banks to add a ‘kill switch’ that will let account holders freeze their accounts when suspicious activity is detected,” Anwar explained.

Hopefully, this will save a lot of victims from being scammed online. Stay tuned for more updates!

Also read: PM10 Keeps His Promise, Says He WON’T Accept a Salary to “Restore the People’s Confidence”