Categories: Digital LifeNews

Tun M wants a cashless Malaysia to fight corruption

Picture by Razak Ghazali (Malay Mail)

The Malaysian government is pushing for a cashless society in order to make it harder for corruption to take place. According to Tun Mahathir, cashless transactions will leave a data trail and this enables authorities to track suspicious activities. 

During the launch of RapidKL’s unlimited-ride monthly pass, the Prime Minister had mentioned that each cashless transaction is recorded and it is easier to find out if there are any attempts to bribe. He also added that corruption is an indirect contributor of rising costs since projects can become more expensive as there is a need to pay certain parties to obtain approval. 

According to Malay Mail’s report, Tun Mahathir had previously expressed interest to pursue for a cashless Malaysia and he was inspired by India’s initiatives to combat cash-facilitated crime and corruption. Two years ago, the Indian government had removed their large 500 and 1,000 Rupee notes from circulation in an effort to crack down on corruption and tax evasion. As a result, this has helped to increase cashless adoption in the country. 

At the moment, there are more than 40 authorised e-money issuers in Malaysia that are able to offer e-wallets. Despite the large number of providers, Malaysia is still very dependent on cash. 

SOURCE ]

Recent Posts

What is it like washing your clothes in a RM12,999 washing machine? | Samsung Bespoke AI Laundry Combo™

This post is brought to you by Samsung. This is the Samsung Bespoke AI Laundry…

10 hours ago

Dongfeng Box Malaysia: 94hp compact EV with up to 310km of range, priced from RM101k

Dongfeng Box is now officially available in Malaysia. Launched in partnership with Central Auto Distributors…

13 hours ago

Nissan Kicks e-Power now open for booking in Malaysia, priced below RM130,000

Edaran Tan Chong Motor (ETCM) has announced that the Nissan Kicks e-Power is now open…

17 hours ago

TikTok, Content Forum and UiTM empowers students with Digital Literacy to promote a safer digital space

TikTok in partnership with Communications and Multimedia Content Forum of Malaysia (CMCF) have recently organised…

20 hours ago

Tesla owners in Malaysia can finally use the Autopark feature

Tesla owners in Malaysia have reported that their vehicles can now perform the Autopark feature.…

20 hours ago

Asus ROG Phone 9 series launching in Malaysia on 10th December 2024

After unveiling its latest smartphones, the Asus ROG Phone 9 series, to the world, Asus…

20 hours ago

This website uses cookies.