This is done through psychological manipulation where the fraudster impersonates a bank officer or an officer of Bank Negara Malaysia, to deceive the victim. Such fraud cases can easily be avoided if consumers are made aware of such methods and informed of the precautions that they should take to avoid being fraud victims. As consumers, we should pay particular attention to the fraud alerts provided by our banks and the police and take the necessary precautions. Consumers should know as a basic fact that for instance, their banks or Bank Negara Malaysia will never ask them to disclose or validate personal details such as login ID, passcode and mobile phone numbers through SMS or emails. 4  BIS central bankers’ speeches  f.  Measures to be undertaken in 2015  We have set out an ambitious roadmap for Malaysia’s migration to e-payments. Moving forward, a strong focus on six strategic priorities is required to accelerate the pace of our country’s migration to e-payments. For 2015, I would like to suggest 6 key measures. i.  Firstly, we need to deploy an additional 50,000 Point-Of-Sale terminals in 2015, targeting in particular lower-tier merchants. The idea is to widen the acceptance of debit cards. To promote wide usage among consumers, we need to intensify efforts to conduct promotional activities to drive the usage of debit cards to reach 89 million transactions in 2015, compared to about 65 million transactions this year. ii.
Payment system forum programme Today’s forum aims to promote awareness and build confidence among merchants to accept payment cards. Among the various topics that will be discussed today are:  BIS central bankers’ speeches  5  •  Payment card acceptance infrastructure and cost;  •  Success stories on payment card acceptance;  •  Card fraud and security management; and  •  Innovation in payment cards. These are all relevant issues for businesses to consider in accepting payment cards and in making choices that would be in their best interest. There is also an exhibition held in Conference Hall 1, where banking institutions and payment card companies will showcase their latest product offering on payment cards and other e-payment services. Businesses have an opportunity to learn more about payment card acceptance and sign up for the attractive packages being offered. Conclusion Our country is at a critical juncture in its migration to e-payments. The various reform measures and the substantial infrastructure investments have created an enabling environment to transform Malaysia’s payment landscape into one that is highly efficient, reliable and competitive. To ensure a successful transformation, the support from all stakeholders for a bold reform is needed. An efficient and competitive payment system is an important strategic advantage in today’s highly challenging and rapidly evolving world. Consumers and businesses alike should re-invent themselves and take full advantage of innovations in payment systems in order to capitalise on the benefits and opportunities that it brings. 6  BIS central bankers’ speeches