Bank Negara confirmed in July 2020 that banks and other financial institutions could deploy eKYC as part of the onboarding process.

Organisations of all sizes can benefit from this service from FICO and the AECB

Cosmos Bank recently had $13.5 million siphoned off by hackers linked to the Lazarus Group in North Korea. These attacks emphasize the need for layered fraud defences and controls that effectively mitigate such risks.

While a contact-free period makes sense from a customer experience point of view, a balance needs to be struck between this and fraud detection and prevention.