Malaysian authorities probing service outages in two local banks

The banks are required to give a full explanation of what led to the incidents.

Malaysia’s central bank is probing two of the country’s largest banks for recent service outages.

In a statement posted on its website, the Bank Negara Malaysia said that it has required the banks to provide a full explanation of the root cause leading to the incidents.

The banks are also required to tell authorities of “corrective and preventive measures undertaken to avoid a recurrence of similar issues.”

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“Bank Negara Malaysia (BNM) takes a serious view of the recent banking services outages by two of our largest banking institutions which have caused disruptions and inconvenience to customers,” the central bank stated.

BNM said that it expects all banking institutions to maintain high availability of banking services at all times. 

“BNM will not hesitate to take further supervisory actions where the banks have fallen short of our regulatory and supervisory expectations,” it warned.