To address the growing challenges posed by cyber threats and digital fraud, the Bank of Thailand (BOT) and Bank Negara Malaysia (BNM) have officially signed a Memorandum of Understanding (MoU) to deepen their collaboration on cybersecurity efforts and enhance cyber resilience across both nations’ financial systems.
The agreement, signed by BOT Governor H.E. Dr. Sethaput Suthiwartnarueput and BNM Governor Dato’ Seri Abdul Rasheed Ghaffour, represents a strengthened partnership between the two central banks. This strategic alliance highlights a commitment by both the banks to upgrade defenses, promote joint capacity building, and encourage the continuous exchange of best practices.
Bank of Thailand and BNM Partner to Boost Cyber Resilience
The initiative was announced through a joint press release published on the official websites of both central banks. The MoU is designed to enable more effective information sharing mechanisms, foster deeper cooperation in cybersecurity operations, and improve the collective ability to prevent and respond to digital fraud.
Speaking at the signing, BNM Governor Dato’ Seri Abdul Rasheed Ghaffour emphasized the importance of regional collaboration in tackling the modern cyber landscape.
“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 Bank of Thailand will significantly deepen our cooperation in cybersecurity and the fight against digital fraud,” he stated.
Echoing this sentiment, BOT Governor Dr. Sethaput Suthiwartnarueput highlighted the critical nature of cross-border cooperation in maintaining a secure financial ecosystem.
“This MoU reflects our commitment to working together with Bank Negara Malaysia 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,” said Governor Sethaput.
The Next in Regional Cyber Defense
The MoU marks an important step forward in regional defences, especially at a time when financial institutions face heightened risk from complex cyberattacks and digital scams. By aligning their cybersecurity strategies, BOT and BNM aim to create a more resilient and secure financial infrastructure that can withstand present and future threats.
In addition to promoting a more coordinated defense against cyber risks, the partnership also opens new avenues for training, joint exercises, and expert dialogues. Both central banks are expected to launch collaborative initiatives in the near future to support their shared goals.
The partnership aligns with a broader trend among Southeast Asian nations to prioritize security in the financial sector. As digital transformation accelerates, central banks like BOT and BNM are taking proactive steps to protect their financial ecosystems and build public trust in digital financial services.
Source: Read More