Liew Chin Tong Calls for Higher Wages, Financial Literacy and Stronger Protection Against AI Scams

Kuala Lumpur, 30 October 2026 – Malaysia must address stagnant wages, rising healthcare costs, household indebtedness and increasingly sophisticated financial scams to strengthen the financial security of its people, Deputy Minister of Finance Liew Chin Tong said in a keynote address at a Prudential event focused on financial education and resilience. He highlighted the government’s efforts to improve wage structures, manage medical inflation and strengthen oversight of Buy Now, Pay Later (BNPL) services as part of a broader push towards a more sustainable economy.

For Malaysian households and businesses, the challenges extend beyond managing personal spending. Liew argued that lasting financial resilience requires structural changes in employment, healthcare, housing and access to essential services. He also warned that artificial intelligence is accelerating financial fraud, increasing the urgency for financial institutions, regulators and consumers to work together to protect savings and strengthen financial awareness.