Bank Rakyat fined RM1mil over cybersecurity, customer data protection breaches
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KUALA LUMPUR: Bank Negara Malaysia imposed an administrative monetary penalty of RM1 million on Bank Rakyat for cybersecurity and customer information protection breaches on Jan 20.
BNM said Bank Rakyat was found to have breached several requirements following a cybersecurity incident in which an external threat actor gained unauthorised access to its information technology infrastructure.
Read more: Bank Rakyat fined RM1mil over cybersecurity, customer data protection breaches
Fomca urges Malaysians to spend prudently in face of rising costs
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PETALING JAYA: Malaysians should brace for a "more difficult" period of rising costs driven by global energy turmoil and to tighten their belts by prioritising essential spending, says the Federation of Malaysian Consumers Associations (Fomca).
Its president Datuk Dr Marimuthu Nadason said global conflicts, particularly in the Middle East, were pushing up transportation and production costs, which would inevitably filter down to consumers.
"Malaysians must accept that we are facing a new wave of cost pressures influenced by external factors beyond our control," he said.
Read more: Fomca urges Malaysians to spend prudently in face of rising costs
Free rides unlikely to cut car dependency, say experts
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PETALING JAYA: Poor connectivity rather than cost is keeping commuters at the wheel, making free rides on public transport unfeasible in efforts to get people to leave their cars at home, say transport experts.Ajit Johl of the Association for the Improvement of Mass Transit and transport consultant Wan Agyl Wan Hassan agree that Malaysiaโs bigger problem is not fares but weak connectivity and poor last-mile links.
โSuch a system still makes private vehicle use more attractive for many commuters,โ they told FMT.Temporary free public transport is unlikely on its own to persuade large numbers of people to leave their cars at home, they added.
Read more: Free rides unlikely to cut car dependency, say experts
Retiree threatens legal action over โexcessiveโ insurance premium hikes
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KUALA LUMPUR: A retiree has warned that he will take legal action against an insurance company and Bank Negara Malaysia (BNM) if they fail to respond to his demands over what he claims are excessive medical insurance premium hikes.
Lawyer Ng Kian Nam said his client, Wong Kee Chong, is demanding that the insurer stop imposing premium hikes beyond the ranges stated in the policy illustration; that BNM issue a permanent circular to enforce this; and that both parties explain why insured patients are charged more than cash-paying patients.
Read more: Retiree threatens legal action over โexcessiveโ insurance premium hikes
Klausa khas insurans perubatan, kesihatan usah beban pengguna
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KUALA LUMPUR: Cadangan Bank Negara (BNM) memperkenalkan klausa khas dalam pelan Insurans dan Takaful Perubatan dan Kesihatan (MHIT) perlu dipantau dengan rapi bagi memastikan pelarasan harga yang akan dilaksanakan tidak membebankan pengguna.KUALA LUMPUR: Cadangan Bank Negara (BNM) memperkenalkan klausa khas dalam pelan Insurans dan Takaful Perubatan dan Kesihatan (MHIT) perlu dipantau dengan rapi bagi memastikan pelarasan harga yang akan dilaksanakan tidak membebankan pengguna.
Ketua Pegawai Eksekutif (CEO) Gabungan Persatuan-Persatuan Pengguna Malaysia (FOMCA), Dr T Saravanan, berkata cadangan itu pada asasnya perlu disambut baik, kerana ia menyentuh isu utama yang sering dihadapi pengguna iaitu penolakan tuntutan atas alasan penyakit sedia ada.
Read more: Klausa khas insurans perubatan, kesihatan usah beban pengguna
Hidden charges, confusion among top BNPL complaints, says consumer group
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PETALING JAYA: Hidden charges, unclear terms and conditions, and difficulties resolving disputes with service providers are among the main complaints received by the National Consumer Complaints Centre (NCCC) involving 'buy now, pay later' (BNPL) services.
BNPL is often promoted as interest- and hassle-free when payments are made the following month, creating the perception that it is not a form of debt.
Read more: Hidden charges, confusion among top BNPL complaints, says consumer group
Increase in cost of food, essentials a strain: Fomca
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Fomca says rising food and daily costs continue to strain Malaysian households despite stable petrol prices
PETALING JAYA: While petrol prices remain stable, Malaysian households are still grappling with high living costs, with rising prices of food and daily essentials continuing to strain family budgets, according to the Federation of Malaysian Consumers Associations (Fomca).
โStable fuel prices do help prevent further escalation in costs. Daily expenses such as food, utilities and services play a much larger role in shaping household financial pressures,โ said Fomca CEO Saravanan Thambirajah. He said despite steady petrol prices, many households do not feel a meaningful reduction in overall expenses.
https://thesun.my/news/malaysia-news/people-issues/increase-in-cost-of-food-essentials-a-strain-fomca/
Read more: Increase in cost of food, essentials a strain: Fomca
Maintaining 800-Litre BUDI95 Limit For e-Hailing Helps Stabilise Costs - GEM
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KUALA LUMPUR, March 26 (Bernama) -- The governmentโs decision to maintain the monthly ceiling of up to 800 litres under the Budi MADANI RON95 (BUDI95) programme for e-hailing drivers and gig workers is seen as a timely measure to help stabilise operating costs amid adjustments to the subsidy scheme.
Malaysian E-hailing Coalition (GEM) chief activist Masrizal Mahidin said the move could also stimulate demand for e-hailing services following the temporary adjustment to the BUDI95 quota eligibility beginning next month.
https://www.bernama.com/en/news.php/?id=2538016
Read more: Maintaining 800-Litre BUDI95 Limit For e-Hailing Helps Stabilise Costs - GEM
Temporary Adjustment Of Fuel Subsidiy Balances People's Welfare And National Fiscal Discipline - Analysts
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KUALA LUMPUR, March 28 (Bernama) -- The government's strategic move to temporarily adjust the fuel subsidy mechanism is seen as an effort to find a balance between the welfare of the people and the country's fiscal discipline in facing the impacts of geopolitical uncertainty in West Asia.
Universiti Teknologi MARA (UiTM) Faculty of Administrative Science and Policy Studies senior lecturer Mujibu Abd Muis said that the temporary adjustment of the Budi MADANI RON95 (BUDI95) programme, effective April 1, is considered an important step towards targeted subsidies to prevent leakage and ensure optimal use of fiscal resources.
Borrowers deciding the best deals before purchase
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PETALING JAYA: The Hire Purchase (Amendment) Act 2026 could have been helpful if it applies to existing borrowers, especially with the rising cost of living.
For creative writer Nuratikah Muhammad, she said her loan will not be covered under the new guidelines since it was taken a few years ago.
โIt would have been great if we were covered as well.
https://www.thestar.com.my/news/nation/2026/03/28/existing-borrowers-left-out
Read more: Borrowers deciding the best deals before purchase
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