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Impose hefty fines on banks for unscheduled downtime: Wee | Scoop

Impose hefty fines on banks for unscheduled downtime: Wee

MCA president stresses Malaysians’ increasing reliance on e-payments aligning with BNM’s objectives, and such issues would cause chaos

3:59 PM MYT

 

KUALA LUMPUR – MCA president Datuk Seri Wee Ka Siong has urged the Finance Ministry and Bank Negara Malaysia (BNM) to impose hefty penalties on banks to deter unannounced downtime and ensure improved services. 

This comes following recent disruptions faced by Maybank’s payment system nationwide, which led to chaotic scenes at a prominent shopping mall. 

Wee emphasised that as Malaysians increasingly rely on e-payments, aligning with BNM’s objectives, any failure or unexpected downtime in a bank’s payment system is unacceptable. ” 

“Imagine the frustration, anger, and embarrassment when a bank customer is unable to make a payment to exit the parking lot or unable to pay for meals at a restaurant. 

“Even bank employees and authorities who deal with e-payments would not wish such inconveniences on their own families,” he said in a statement. 

“Literally, tens of millions of Malaysians are affected when such downtime or glitches occur without prior warning.” 

He further noted that while planned downtimes for maintenance are necessary, they must be regulated and managed carefully to minimize inconvenience for the public. 

On April 5, Maybank users expressed frustration as the bank’s online payment services suddenly became unavailable.  

Investigations revealed that Maybank’s website was undergoing maintenance, causing difficulties in accessing the Maybank2U app for most users, who could only resort to ATM services. – April 7, 2024 

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