Bank Negara Malaysia (BNM) and Bank of Thailand (BOT) have on Thursday signed a memorandum of understanding (MoU) to strengthen joint efforts in cybersecurity and digital fraud protection.

This initiative also promotes a closer working relationship between the two central banks, enabling more effective information sharing, capacity building, and the exchange of best practices, the duo said in a statement.

The MoU was signed by BNM Governor Abdul Rasheed Ghaffour and BOT Governor Dr. Sethaput Suthiwartnarueput.

This MoU exemplifies BNM and BOT’s commitment to enhance cybersecurity preparedness and strengthen the cyber defenses of both nations’ financial industries.

“BNM remains committed to enhance the resilience of our financial institutions and strengthen protection of our financial consumers against current and emerging cyber threats,

“This partnership with BOT will significantly deepen our cooperation in cybersecurity and the fight against digital fraud,” BNM Governor Abdul Rasheed Ghaffour said.

Meanwhile, BOT Governor H.E. Sethaput Suthiwartnarueput said this MoU reflects the bank’s commitment to working together with BNM to strengthen cybersecurity and combat digital fraud.

“As cyber threats become increasingly sophisticated, close collaboration and knowledge sharing are essential,

“Through this partnership, we aim to enhance the resilience and security of our financial systems for the benefit of consumers in both countries,” he added.

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