According to a Malay Mail report, Nor Shamsiah said BNM will consider the appropriate action to take once it completes its probe on the matter.

“We were informed towards the end of July by iPay88. iPay88 is not technically supervised by BNM. It is the payment facilitator function of iPay88 that was the cause of the data breach.

“We only knew about (iPay88’s incident) recently and since then, we have been in communication with them,” she was quoted as saying at a press conference.

Deputy BNM governor Jessica Chew said banks have been told to enhance protective measures to protect credit card holders and to inform customers of these steps.

Yesterday, iPay88 confirmed that it suffered from a breach more than two months ago which may have compromised the card data of users.

The e-commerce firm said an investigation was initiated on May 31 and was ongoing while cybersecurity experts had been roped in to mitigate the issue, with “no further suspicious activity detected since July 20”.

Lembah Pantai MP Fahmi Fadzil had questioned why iPay88 had only released information on the data breach more than two months after the incident.

The communications and multimedia ministry’s personal data protection department has also begun a probe into the cybersecurity breach.