© Nikkei Markets
KUALA LUMPUR (Oct 11) — Malaysia aims to introduce a national digital identification system to curb fraud, the federal Communications and Multimedia Minister Gobind Singh Deo said Thursday.
“The national digital ID would allow for trusted eCommerce transactions where both the seller and buyer are verified using a secure national digital ID system, eliminating elements of fraud and cheating,” Deo said at an e-commerce summit in Selangor.
The ministry is developing the system with the Communication and Multimedia Commission and Malaysia Digital Economy Corp.
Financial institutions and other stakeholders will be consulted soon, he added.
“I hope we can get something out by next year,” Deo said.
E-commerce contributed to 6.1% to Malaysia’s gross domestic product in 2016, according to official data.
– By Gan Pei Ling
– Edited By Abhrajit Gangopadhyay