KUALA LUMPUR, 15 September 2026 — Moneywave is entering a new phase of growth, combining more than three decades of experience in money services with a physical-and-digital model designed around how people and businesses move money today.

Operating since 1994, Moneywave has moved its headquarters from Pandan Indah to Wisma MCA, Jalan Ampang, where its new flagship brings currency exchange, international remittance and business payment solutions under one roof.

The company currently operates five outlets across West and East Malaysia, with remittance services covering more than 60 currencies.

The New Phygital

Moneywave’s new proposition, described as “phygital”, is built around giving customers flexibility between physical and digital channels.

Customers will be able to start their journey on their phone and complete it at an outlet, or begin at an outlet and continue digitally.

One planned capability will allow customers to lock an FX rate on their phone and collect later at the counter.

The company’s mobile app is scheduled to launch in Q4 2026.

Moneywave CEO Aiman Kallahan said the company’s approach was shaped by more than 30 years of understanding customers’ money-moving needs.

“We spent thirty years learning what people need when they move money. Wisma MCA is where we build the outlet around that, instead of asking customers to fit the counter.”

The company believes digital convenience and face-to-face accessibility can work together, particularly for customers such as foreign workers sending money home, families supporting relatives overseas, students, travellers and small businesses making cross-border payments.

From Heritage to the Future

The new flagship also reflects Moneywave’s long history.

A collection of rare international banknotes from one founder’s personal collection, accumulated over more than 30 years, is displayed at the premises.

What began as an interest connected to his work eventually became a lifelong hobby, offering a glimpse into how money itself has evolved over the decades.

Moneywave sees the Wisma MCA flagship as a blueprint for future outlets, combining physical accessibility with its expanding digital capabilities.

Regulated by Bank Negara Malaysia, the company says its broader vision is to make “Sending Money Like a Message” a daily reality for customers.

With its flagship now open and the mobile app planned for Q4, Moneywave is positioning its next chapter around a simple proposition: digital when convenient, physical when needed. – NMH

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BANGKOK: Cybercrime in Southeast Asia is rapidly evolving into a large-scale, organised industry, posing significant risks to the financial technology (fintech) sector as digital adoption accelerates across the region.

The threat is also increasingly evident in Malaysia, where authorities and financial institutions continue to grapple with rising online scams, account takeovers and the widespread use of mule accounts to facilitate fraudulent transactions.

With millions of users moving to digital banking and e-wallet platforms, cybercriminals are exploiting gaps in identity verification and system security, highlighting the urgency for stronger safeguards.

Speaking at Money20/20 Asia 2026 in Bangkok from 21 to 23 April, VIDA founder and chief executive officer Niki Luhur said cybercrime is outpacing traditional identity security frameworks, requiring a fundamental shift in how risks are managed.

Cross-border syndicates drive scale

Luhur said fraud operations are now run by coordinated syndicates spanning Myanmar, Thailand and Indonesia.

In one case, authorities in Myanmar reportedly seized US$12 billion worth of Bitcoin linked to illicit operations, underscoring the scale of these networks.

“Cybercrime is democratic — they don’t care what size institution you are. They just scan for vulnerabilities. All the doors that are open, they exploit them,” he said.

Cybercrime threats go beyond deepfakes

While deepfakes draw attention, Luhur said the real risk lies earlier in the attack chain — particularly injection attacks from compromised devices using virtual cameras.

These tactics allow cybercriminals to bypass traditional biometric verification systems, reflecting a shift towards device- and infrastructure-level exploitation.

Malaysia steps up anti-scam measures

In Malaysia, Bank Negara Malaysia (BNM) and industry players have intensified efforts to combat scams, including tighter controls on mule accounts and enhanced fraud detection requirements.

Banks have introduced additional safeguards such as transaction alerts, cooling-off periods and stronger authentication measures, but scam-related losses remain a concern.

Shift towards layered security

To address these risks, VIDA advocates a layered approach that verifies the user, their identity and the device simultaneously.

This aims to close gaps in fragmented KYC and authentication systems across financial institutions.

New solution targets evolving fraud

VIDA also introduced ID FraudShield, designed to detect threats that conventional biometric systems may miss.

The solution integrates liveness detection with device intelligence, behavioural analytics and network monitoring within a single platform. – NMH

The post Cybercrime Expands, VIDA Urges Stronger Fintech Security first appeared on NMH.