KUALA LUMPUR, Nov 5 (Bernama) -- Bursa Malaysia closed higher, buoyed by Bank Negara Malaysia’s (BNM) decision to maintain the Overnight Policy Rate (OPR) at 2.75 per cent, alongside positive cues from Wall Street. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 19.30 points, or 1.19 per cent, to 1,635.86 from Wednesday’s close of 1,616.56. The benchmark index opened 6.72 points higher at 1,623.28, and fluctuated between an intraday high of 1,642.44 and a low of 1,622.62 during the trading session. However, market breadth was negative, with losers outnumbering gainers 723 to 497, while 466 counters were unchanged, 1,075 untraded and 10 suspended. Turnover rose to 3.74 billion units valued at RM3.61 billion compared with yesterday’s 2.81 billion units valued at RM2.57 billion.
US Treasury Secretary Janet Yellen has raised concerns about the rising issue of fraud in the US banking system, calling it a huge and growing problem . Speaking at an event hosted by the American Bankers Association , Yellen emphasized that fraud is being seen nationwide , including a significant rise in fraudulent activities related to government checks . To combat this issue, the Treasury Department is increasingly utilizing artificial intelligence (AI) , which Yellen says has made a dramatic difference in detecting and addressing fraudulent activities within the banking system. The use of AI represents an important step forward as the department works to better identify and deal with fraud that is becoming more sophisticated and widespread. The adoption of AI technologies in financial regulation reflects ongoing efforts to modernize how fraud is tackled across the system, ensuring that institutions can better protect themselves and their customers.