KUALA LUMPUR, Feb 12 — My Digital ID Sdn Bhd aims to achieve 17 million MyDigital ID registered accounts from Malaysians by the end of 2026, as compared to 7.3 million accounts as at the end of last year. 

Deputy chief executive officer Azrin Aris said the company expects to hit 13 million MyDigital ID accounts by the middle of this year.

“As of today, we have reached almost 10 million (accounts), and our target is a little further to reach 13 million (accounts).

“When more and more consumers have MyDigital ID accounts, we hope this can reduce cases of online fraud,” he told reporters after the Signing of the Memorandum of Understanding with Banks, E-Wallets and Financial Technology (Fintech) event here today.

Azrin said the number of MyDigital ID-registered accounts increased significantly (10 million accounts) as of today, up from 1.8 million in the same period last year, driven by stronger awareness of crime and cybersecurity among Malaysians.

He said MyDigital ID makes it easier for users to remember their usernames and passwords, especially as more and more applications require them.

“So, by using MyDigital ID, we do not need to remember a lot; we just use one application to log in, and most importantly, our data is safe as it is stored at the National Registration Department (NRD), and we (MyDigital ID) act as the platform that verifies the identity,” he said. 

Meanwhile, National Cyber Security Agency chief executive Megat Zuhairy Megat Tajuddin said the country recorded 5,159 e-financial fraud cases in 2025, compared to 1,812 cases in 2024.

In his opening remarks, he said that cases resulted in RM458 million in financial losses in 2025, up from RM65 million in 2024, with an average monthly loss of RM38.2 million from online financial fraud. 

“Identity has become a major risk, and as long as digital identity remains fragmented and unreliable, fraudsters will always find you,” he said. 

Today, My Digital ID inked memoranda of understanding with 15 leading banks and fintech companies in a collective effort to strengthen identity authentication across Malaysia’s financial institution ecosystem.

In a separate statement, it said that via these collaborations, MyDigital ID’s e-verification technology will be tested and implemented within the onboarding and transaction verification systems of participating institutions.

“MyDigital ID is the only platform in Malaysia that verifies identities directly against the NRD database as the single source of validity in real time. 

“This capability provides financial institutions with a higher level of assurance when authenticating customers for account opening, digital transactions, and other critical services,” it said. — Bernama