Secure your digital wallet in 2025: how Malaysia’s top digital wallets are protecting your money

cyber-security,money-management,safety,secure,tng-ewallet
2025-07-09
Secure your digital wallet in 2025: how Malaysia’s top digital wallets are protecting your money

Digital wallets have become an essential part of everyday life in Malaysia. From buying groceries to paying bills and tolls, more people are choosing to go cashless. But with more digital convenience also comes more concern especially when it comes to security. 

 

In 2025, users are no longer just looking for speed or cashback. They want to know: Is my money safe in this app? What happens if I get scammed? Can I trust my digital wallet provider?

 

If you’ve asked the same questions, this article will help you more informed decisions. 

 

In this article, we’ll explore: 

  • The most common digital wallet security threats in Malaysia
  • Key safety features found in popular digital wallets like TNG eWallet, Boost, AEON Wallet, and GrabPay
  • Tips on how to protect your own account
  • What to do if something goes wrong 

 

Common digital wallet security risks in 2025

Even with improvements in technology, scammers are still finding new ways to trick users. Here are some of the most common threats to your digital wallet: 

 

1. Phishing scams 

 
Scammers today often send fake messages that look like they come from trusted companies or offer unbelievable promotions. These messages may include links that lead to phishing websites or prompt you to download suspicious apps. The goal is not to steal your TNG eWallet login or take over your account — in fact, TNG eWallet accounts are never taken over. Instead, scammers try to trick you into linking your TNG eWallet to third-party platforms like Google Play, Apple App Store, or e-commerce sites such as Lazada. Once the wallet is linked, they can make unauthorised purchases using your balance, without needing to access your account directly. That’s why it’s important to be extra cautious when receiving unexpected messages or prompts to bind your eWallet to other services. 

 

2. Malware scams

 

A malware scam is a type of online trick where scammers try to install harmful software, called “malware”, on your phone or computer without your knowledge. This usually happens when you click on a fake link, download an unknown app, or visit a suspicious website. Once the malware is installed, it can secretly steal your personal information such as passwords, bank details, or eWallet PINs. Some malware can even give scammers full control of your device remotely, allowing them to move your money or spy on your activity. In Malaysia, many scams begin with fake messages that ask you to download apps or “security tools” that are actually malware. To stay safe, only download apps from trusted sources like the App Store or Google Play, and avoid clicking links in suspicious SMS or WhatsApp messages. 

 

3.  Impersonation scams: Fake customer service, police, and banks 

 
Scammers don’t just pretend to be customer service agents from your digital wallet — they also impersonate law enforcement officers, bank staff, or even officials from government bodies. They may call or message you, claiming that your account is under investigation, that you’ve been involved in a crime, or that there’s an urgent issue with your wallet or bank account. To make the scam more convincing, they often use fake names, badges, or spoofed phone numbers. Their aim is to create panic and pressure you into giving sensitive information like your 6-digit PIN or OTP. Once they have this information, they can quickly make unauthorised transactions and steal your money. Always remember: legitimate representatives will never ask for your PIN or OTP under any circumstances. . 

 

4. Public Wi-Fi threats


Using public Wi-Fi in cafés or airports can expose your device to hackers who can intercept your login details. 

 

5. Weak passwords or reused PINs

 

Many users still use easy-to-guess passwords like “123456” or reuse the same PIN for different apps. This makes it easier for attackers to access your account. 

 

Security features across Malaysia’s top digital wallets

 

In response to rising security threats, Bank Negara Malaysia (BNM) introduced five key safety and security measures and made them mandatory for banks. These measures aim to create a more secure digital payment ecosystem for all Malaysians.  

 

TNG eWallet is currently the first and only eWallet in Malaysia to have fully implemented all five measures, setting a strong benchmark for digital wallet safety.

 

Here’s how TNG eWallet meets those five safety measures, to ensure only you will be able to access your eWallet account: 

  1. Moving beyond SMS OTP to face verification for key actions such as logging in to your account, and making payments or transactions. 
  2. Using automated fraud detection to monitor for suspicious behaviour or transactions. If your account activity appears unusual or goes above a certain amount, there will be additional security measures.  
  3. Every TNG eWallet is limited to one secure mobile device. All transactions must be authenticated using TapSecure, a one-tap approval from your linked device.  
  4. Enforcing a cooling-of period when you change your device with weaker authentication, where certain transaction limits apply.  
  5. TNG eWallet has also established a dedicated customer service channel or hotline for incident reports and suspicions of scams and fraud.

 

Here’s a quick comparison of four of the most used digital wallets in Malaysia’s security features: 

 

Security feature 

TNG eWallet 

Boost

Aeon Wallet 

GrabPay 

Biometric login 

  

 

 

2-factor authentication 

 

 

 

 

Real time transaction alert 

 

 

 

 

Kill switch 

 

 

 

 

Device bind

Cooling off period

Dedicated fraud support

 No hotline, only a web-based form.

 

 

Note: Features may vary by version. Info as of June 2025 from official app resources and user reports.

 

Tips to protect your digital wallet (no matter which one you use) 

 

Regardless of which digital wallet you prefer, these basic safety tips can help you reduce your risk of scams and fraud: 

 

1. Set a strong and unique password 

 

Avoid using your name, birthday, or common numbers like 1234. Use a mix of letters, numbers, and symbols. Most digital wallets require you to set a password with a mixture of numbers, symbols, and letters. 

 

2. Turn on biometric login 

 

Use your phone’s fingerprint or face ID feature if it’s available. This adds an extra layer of protection. 

 

3. Don’t share your PIN or OTP

 
Even if someone says they’re from your digital wallet company, never share your OTP or PIN. Real support agents will never ask for this. 

 

4. Update your app and phone regularly

 

Security features are often improved through updates. Make sure you’re always using the latest version of your digital wallet app. 

 

5. Avoid public Wi-Fi for payments 

 

Use your mobile data or a secure home Wi-Fi connection when logging into your digital wallet. 

 

6. Turn on notifications

 

Real-time alerts help you track every transaction. If something looks wrong, you’ll know immediately. 

 

7. Check your transaction history

 

Make it a habit to review your payment activity once a week. If you see anything unfamiliar, report it. 

 

What to do if your digital wallet is compromised

 

If you notice something suspicious or think your digital wallet account has been hacked, act fast: 

  • Freeze your account by hitting the kill switch (available in apps like TNG eWallet and GrabPay)
  • Contact the official customer support via websites or phone calls
  • Report the scam to the National Scam Response Centre (Call 997) within 24 hours
  • Change your password and PIN
  • Check other linked accounts for unusual activity 

 

Most digital wallet companies have systems in place to investigate fraud cases and, in some cases, recover lost funds if reported quickly. 

 

You are the first line of defence

 

The good news is that Malaysia’s top digital wallet providers are actively improving security features to match the growing threats. From biometric logins to real-time alerts, these tools can make digital payments safer than ever before. 

But even with all these features, the first line of defence is still you. Knowing the risks, using the tools available, and reporting anything suspicious early can make all the difference. 

Whether you’re using TNG eWallet, Boost, AEON Wallet, GrabPay, or any other app, always take time to protect your digital wallet.