Overview
Work History
Education
Skills
Awards
Training
Additional Info
About Me
Timeline
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Raymond Wong Yew Fai

Raymond Wong Yew Fai

Risk Manager – Risk Operations
Ampang

Overview

21
21
years of professional experience
3
3
Languages

Work History

Risk Manager – Risk Operations

Paydibs Sdn Bhd
Kuala Lumpur
06.2025 - Current
  • Team Leadership & Strategy: Manage and mentor a team of 3 risk analysts, overseeing daily operations, setting performance goals, and fostering a culture of continuous vigilance and improvement.
  • Fraud Management & Investigation: Spearhead all fraud prevention efforts, including real-time transaction monitoring, in-depth fraud investigation, and chargeback management, reducing financial losses.
  • System & Process Optimization: Administer and fine-tune the parameters of the company's Fraud Detection System (FDS) to improve accuracy, reduce false positives, and adapt to emerging fraud trends.
  • Risk Policy & Procedure Development: Author and implement comprehensive Standard Operating Procedures (SOPs) for the Risk Department, standardizing processes for dispute handling, merchant underwriting, and transaction monitoring.
  • Merchant Risk Assessment: Oversee the merchant onboarding and underwriting process, conducting thorough risk evaluations and due diligence to mitigate exposure from high-risk clients.
  • Transaction Operations: Manage and authorize all void and refund requests, ensuring compliance with internal policies and card scheme regulations while maintaining a positive merchant experience.

Manager – Regulatory & Compliance (Fraud, Risk & Compliance)

U Mobile Sdn Bhd
Kuala Lumpur, Kuala Lumpur
11.2021 - 06.2025
  • To manage Card Schemes (Visa, Mastercard and UPI) Compliance related risks and forming and executing periodic Compliance program.
  • To assist Head of Fraud, Risk and Compliance on topics related to regulatory including advisory, and gap assessment particularly on any new and revised applicable card schemes requirements.
  • Responsible for day-to-day operational efficiency, adhering to processes and procedures according to the SOP's.
  • Establishing SOPs and adding Addendums to existing SOPs to cater for new system enhancement and new processes.
  • Develop a collaborative relationship with regulators, peer banks and fraud risk industry forums to help detect and mitigate fraud.
  • Work closely with internal Technology Development & Deployment team and external processor vendor to ensure Compliance program is adhere related to system enhancement.
  • Periodic submissions of PCI DSS report to all card schemes (i.e. half yearly/annually).
  • Act as liaison person for BNM, Visa, Mastercard & UPI.
  • Monitor and maintain attentiveness to potential 'red flag' issues associated with AML/Fraud.
  • Responsible for implementing corrective actions if Audit team reviews and determine that certain controls need enhance effectiveness.
  • Conduct internal training and awareness programs to the related staff, with timely updates on latest Compliance programs from Card Schemes.
  • Key Achievement:
  • Conducted top 10 Third Party Acquirer (TPA) annual assessment and review with no adverse compliance findings observed.
  • Assisted Company to become member of NCG (National Cards Group) & MRMTF (Malaysia Risk Management Task Force
  • Liaison person for card schemes for existing the Issuing & Acquiring business activities.

Manager, Fraud Card & Merchant Fraud Monitoring & On Boarding

HONG LEONG BANK BERHAD
Kuala Lumpur, Kuala Lumpur
08.2019 - 06.2021
  • Monitor chargeback performance and provide early warning of merchant at risk of entering scheme chargeback monitoring programs.
  • To contain Payment Card Acquiring Fraud basis point within or lesser than industry level.
  • Close monitoring of merchants' transaction activities and update it into 'Watch List'.
  • Ensure timely action in withholding sales payments of fraudulent transactions to merchants.
  • Ensure validations of potential merchants are performed with card brands (Visa International and MasterCard Worldwide).
  • Recommendation of strategies to address fraud mitigation at merchants' level.
  • Conduct on-site review at merchant business premises and provide fraud awareness & Anti-Money Laundering (AML) training to merchant.
  • To assist the Head of department in reviewing the internal SOP and other Compliance manual on annual basis.
  • Keep abreast with new changes of laws and regulatory requirements and guidelines to establish impact to the organisation.

Head of Risk & Compliance

PAYDIBS SDN BHD
Kuala Lumpur, Kuala Lumpur
01.2018 - 07.2019
  • Provide leadership and direction to a newly established Fraud and Risk function.
  • Work closely with the IT Development team to develop a robust Fraud Prevention Engine (FPE) from scratch to combat fraudulent transaction.
  • Reviews daily exception report and monitors payment transactions that are potentially fraudulent.
  • Develop policies and procedures and implementing them across the organisation, providing guidance in an advisory role for matters relating to potential fraud and risk.
  • Lead and implement the Risk underwriting function for new applications acquired.
  • Act as a final approver on e-commerce merchant's website compliance check status such as refund, shipping, cancellation policies, and other related terms are in place prior turn on to goes live within SLA.
  • Provide training and education to internal stakeholders in matters pertaining to risks.
  • Keep abreast of new developments in fraud and risk matters and to be a Subject Matter Expert in risk.
  • To drive the staff management and development plan.
  • Periodic present and update on monthly Chargeback and Fraud to CEO, Department Heads.
  • To assist in developing the standard operating procedures of the compliance framework, policies & procedures and controls in line with related laws, regulations & guidelines on Anti-Money Laundering (AML) and Counter Financing of Terrorism (CFT) rules and regulations.
  • Lead a special HR project to streamline the internal processes by figure out a potential vendor which providing freemium services for staff leaves application via online.
  • Appointed as PCI DSS committee member to ensure company is certified under PCI council's requirements on data security acceptance environment.
  • Assisted company on a special cost-saving project by appointing better rates and services for Credit Rating Agency.
  • Key Achievement
  • Successfully limits fraud losses to zero chargebacks and mitigate chargeback inquiries from Acquiring banks by setting out clear defense
  • Developed Fraud Prevention Engine (FPE) and fraud rules to prevent fraud attack and control multiple usage transaction.

Fraud Manager

WIRECARD PAYMENT SOLUTIONS MALAYSIA SDN. BHD.
Kuala Lumpur, Kuala Lumpur
05.2017 - 01.2018
  • Monitor daily suspicious queues between 200 to 300 and identify high-risk transactions within the business portfolio.
  • Continuous review of merchant transaction activity, identify fraudulent transactions and cancel them from further processing.
  • Perform quality checks on total cases closed by peer. Reviewed >100
  • Provide fraud input and concern as whether to approve or decline merchant application.
  • Identify system improvements to prevent fraudulent activities and false positive alerts.
  • Periodic review on fraud rules and stand in parameters to fulfil merchant business risk appetite.
  • Analyse merchant’s transactional behaviour and conduct fraud investigation any abnormal changes in volume and / or breaches of limits.
  • Monitor chargeback performance and provide early warning of merchant at risk of entering scheme chargeback monitoring programs.
  • Assist merchant in case of fraud attack and provide follow up action plans for Citi merchant portfolio.
  • Support Head of Merchant Risk to maintain and improve merchant fraud management policies and procedures such as Global Merchant Risk Policy Territory Addendum (TA) for Macau and Philippines within SLA.
  • Support sales on business visit and provide fraud management training upon request
  • Stand by and back up for other countries such as Singapore, Hong Kong, Philippine market during public holiday in Malaysia.
  • Interact with Operations Teams, Sales Teams, and Monitoring Teams for the resolution of day-to-day activities.
  • Support new candidate hiring progress for KL Team and responsible for training when new staff is on board.
  • Key Achievement
  • Visited Singapore Headquarter to meet counterparty for 2-day ad hoc training on learning new assignment, and completed it independently with minimum supervision.

Manager - Payments & Fraud

Guoline eMarketing Sdn Bhd (GEMFIVE)
03.2015 - 04.2017
  • Leads order authentication function processing >300 to <;3000 daily orders based on order verification parameters
  • Screens all orders for suspicious purchasing activity, code abuse and fraud including multiple transactions by a customer or the use of many or varied accounts or multiple orders associated with a single or group of customers – identified > 4800 suspicious orders & carried out cancellations
  • Supports the definition & enhancement of risk & fraud parameters including system triggers that are built into the in-house, proprietary rules engine maintaining a safe payment ecosystem
  • Sets order verification scheduling to carry out authentication in an efficient manner, including workload balancing over weekends and public holidays
  • Successfully limits operational losses to zero chargebacks and mitigate chargeback inquiries from Acquiring banks by setting out clear defence
  • Transformed manual refund process into system and managed to improve productivity from 14 working days to 3 working days as a result managed customer and refund turnaround time.
  • Process Re-engineering by centralized online banking refund task from Finance department to Payment team.
  • Work closely with various internal customer such as Finance, Marketing, Merchandising & Customer Service Support to resolve customer complaint and inquires.
  • Conduct outbound call to customer on payment failure issue and encourage customer to perform second attempt on sales retention effort.
  • Handle customer or merchant service calls and emails regarding fraud transaction inquiries.
  • Investigate disputed transactions by cardholder and liaise with Acquiring partner banks accordingly.
  • Undertake any other duties as and when assigned by the Management.
  • Key Achievement
  • Detected a mobile phone seller merchant defrauded promotion voucher code amounting RM15,000, leading to successful mitigation on further losses and fully recovered marketing fund being cheated.
  • Champion a semi-auto refund process project together IT team into the system from manual process, improved productivity and managed customer expectation.
  • Special Recognition Letter from CFO/COO in recognition of the outstanding efforts to the company.

Fraud Control - Risk Management

GHL Systems Berhad
Kuala Lumpur, Kuala Lumpur
07.2014 - 03.2015
  • Monitor and review UAT issues and ensure proper sign-off prior to porting to Productions.
  • Responsible for making sound judgments and decisions on the alerts in accordance with the operating guidelines, procedures and customer interaction module to prevent and minimize fraud losses.
  • To review the E-commerce merchant application submitted by the sales person to ensure that there is no content violation in accordance with Visa/MasterCard regulations.
  • Conduct on-site review at merchants business premises and provide fraud awareness & Anti-Money Laundering (AML) training to merchants.
  • To lead and manage a team of Fraud Control and ensure all relevant Standard Operating Procedures & Policies are adhered and maintain unhindered operations whilst meeting all department objectives.
  • To maintain proper records and audit trails for all work-related matters, sources documents, manuals and intellectual assets of the Company, is not to place the Company in any compromising situation.
  • To carry out any other duties as assigned and directed by the Management on the ac-hoc basis.
  • Joint Investigation with Group Internal Audit to conduct Merchant Audit exercise across Peninsular Malaysia.
  • Key Achievement
  • Led a special taskforce investigation project with Group Internal Audit department to conduct Merchant Audit exercise across Peninsular Malaysia. Disclosed that a Sales staff was manipulated signboard picture before submission with >20 cases being affected, and resulted sacked by Group Human Resource due to misconduct.

Assistant Vice President - Fraud Admin (Fraud Management)

Alliance Bank Malaysia Berhad
Kuala Lumpur, Kuala Lumpur
12.2011 - 06.2014
  • Monitoring
  • To ensure fraud dispute is handled promptly and credit is given within stipulated turnaround time.
  • To review all disputes to determine the granting of refund and/or write-off.
  • To ensure fraud recovery is done in accordance to chargeback and pre-compliance ruling.
  • Attend to cardholder inquiries and correspondences.
  • Provide feedback on process improvement, process re-engineering and automation.
  • To establish Common Purchase Point (CPP) and Ghost Terminal Testing (GTT) Watch exercise to track all fraud accounts and to maintain a comprehensive database for MIS reporting.
  • To contain Payment Card Acquiring Fraud basis point within industry level.
  • Close monitoring of merchants’ transaction activities.
  • Ensure timely review of all fraud monitoring exceptions reports.
  • Ensure timely action in withholding sales payments of fraudulent transactions to merchants.
  • Ensure validations of potential merchants are performed with card brands (Visa International and MasterCard Worldwide).
  • Recommendation of strategies to address fraud mitigation at merchants’ level.
  • Reviews and implementations of fraud preventive controls/measures to merchants.
  • Recommendation of termination on fraud prone merchants.
  • Monitor Debit / ATM card reports for potential fraud, may contact client to verify transactions
  • Fraud Investigation
  • Conduct Fraud Awareness training to merchants.
  • Conduct investigation on fraud cases.
  • To develop a good relationship with law enforcements in relation to investigation of fraud cases.
  • Assist cardmember with transaction disputes and or fraud claims with supporting investigation functions within the operations.
  • Administrative
  • Attending meetings with member banks, card brands and law enforcement officers.
  • Attending hearing fixed by Financial Mediation Bureau (FMB) and/or other Consumer Tribunals on payment card and ATM withdrawal fraud related cases.
  • Compliance
  • Daily monitoring of exception reports to ensure compliance in accordance to prescribed guidelines, internal procedure and BNM guidelines and regulations.
  • Report unusual cardholder activities to Group Compliance Unit which may relate to money laundering or terrorist financing.
  • To ensure issuing fraud data are promptly and accurately reported to BNM, Visa International, MasterCard Worldwide and internal fraud database within the prescribed time frame.
  • Leadership
  • Manage and train a team of managers, senior executives and executives.
  • Assign duties and tasks to each team members and monitor the department and staff’s performance.
  • Ensure all staff participation in training to upgrade competencies, skills set and knowledge.
  • Conduct regular case studies and briefings with staff.

Executive, Fraud Management & Authorisation

HONG LEONG BANK GROUP ( EX-EON BANK GROUP)
02.2010 - 12.2011
  • Conduct investigation to detect collusive and malpractice merchants
  • Screen thru merchants application forms and conduct checks with members banks on merchants conduct of account
  • Assigned task to conduct investigation of Lost/Stolen cases from issuing banks
  • Makes recommendations on merchants terminations, on invalidation of terminals towards merchant which are suspected to be collusive or malpractice
  • Initiated recoveries on credit card retained by merchants and branches in accordance to Visa International and Mastercard Worldwide rulings
  • Site visits to review Mail order / Telephone oder (MOTO) merchants and process operations for optimum risk mitigation
  • Conduct fraud awareness training to merchants
  • Detecting suspicious transactions and preventing fraudulent transactions thru the review of the early on-line fraud detection system,FDM
  • Ensure that the alerts printed are review appropriately with the shortest time, without allowing the alerts to accumulate to content with the detection related KPI sets
  • Responsible of the monitoring of cardholders' account activities for possible fraudulent transactions and analyse fraud trends
  • Identify suspected fraudulent transactions when the alerts are generated timely to minimizing the fraud losses
  • Block the card in exception file handling if the transactions are confirmed to be fraudulent and temporary block the card if the cardholder could not be contacted to verify the transactions
  • Sending out SMS to seek cardholders' assistance to contact us to verify transactions
  • Key Achievement
  • Attained one promotion, twice salary adjustment from Manager to Assistant Vice President within 1 year in view of personal initiative, commitment and people management skill among 6 team members.
  • Received Special Recognition Award of Outstanding Performance and Lasting Contribution to Malaysian Risk Management Task Force (MRMTF)

Senior Executive–Acquiring Fraud Management

Alliance Financial Group (Alliance Bank)
03.2008 - 02.2010
  • Recommendations of strategies to mitigate fraud at merchants’ level
  • Conduct site investigation on merchants and fraud cases.
  • Review and implement fraud preventive controls/measures to merchants.
  • Initiate withholding sales payments to fraud occurrence merchants on daily settlement reports.
  • Conduct fraud awareness training to merchants.
  • Recommendations of termination on fraud prone merchants.
  • To perform NMAS/MATCH check for potential acquired merchants.
  • Provide sound recommendations and strategies to detect, prevent and mitigate fraud
  • Prepared total monthly fraud notification letter (Visa & Mastercard), compiling fraud data & send to involve merchant.

Credit Analyst - Card Processing

MBF Cards (M) Sdn Bhd
Kuala Lumpur, Kuala Lumpur
01.2007 - 12.2007
  • Responsible to vet credit card applications, perform credit screening, scrutinize documents received and verify applicants information.
  • Perform desk investigation with applicant and employer; proceed with recommendation for approval based on CCCRIS conduct and verification result.
  • To ensure quality and prudent credit assessment of team members.
  • To ensure achievement of targets, including processing turnaround time given and productivity.
  • Handle ad-hoc requests from the existing cardholders such as balance transfer, permanent increase credit limit or decrease credit limit, upgrading, downgrade, online applications as well as supplementary application requests from principle cardholder.

Credit Processing Officer

EON BANK GROUP
Kuala Lumpur, Kuala Lumpur
07.2006 - 01.2007
  • To ensure all required credit documents used for credit decisions must be maintained in credit file.
  • Perform phone investigation with applicant and employer; proceed withrecommendation based on CCCRIS conduct and verification result.
  • Ensuring compliances of the credit policy and procedures in processing the applications so as to minimize the risk of financial losses and forge application by approving quality application.
  • Attend to the urgent application (internal & external), prestige card application, Fixed Deposit Pledge and review on appeal application.
  • Evaluate and approve credit card applications in accordance to the assigned limits

Operations Management Officer

Focus World Vision Care Sdn Bhd
Kuala Lumpur, Kuala Lumpur
10.2004 - 07.2006
  • To handle genral paper work
  • To prepare sales report to Director / Manager in every month.
  • Being transfer to branches if need when shortage of manpower.
  • To prepare/ issue formal letter to relevant parties
  • Dealing with both supplier and customer.
  • Monitoring daily stock inventory level to ensure stock level in a healthy position

Education

Bachelor's Degree - Business Studies/Administration/Management

HELP Institute
01.2004

Primary/Secondary School/SPM/'O' Level - Buddhist Studies

Confucian Private Secondary School, KL
Kuala Lumpur, 14
01.1999

Skills

  • Microsoft Office Word

  • Microsoft Office Excel

  • Microsoft Office PowerPoint

  • Team Leadership & People Management

  • Fraud Detection

Awards

Outstanding Performance and Lasting Contribution to Malaysian Risk Management Task Force (MRMTF) – Award recognition received on 25 April 2014, Letter of Appreciation for Outstanding Performance by Guoline eMarketing Sdn Bhd – Award recognition received on 29 April 2016

Training

  • Fraud Prevention Detection & Investigation 8th November 2012 conducted by Julie Thomas, Country Manager, Crimson Logic Malaysia Sdn Bhd
  • VISA Security Summit 2013 29-30 May 2013 Bangkok, Thailand
  • The Principles of Fraud Management for Issuers & Acquirers 2-5 July 2013 Kuala Lumpur, Malaysia conducted by Melvin Chew, Vice President Customer Services South East Asia/Asia Pacific MasterCard Worldwide
  • The Business of Fraud Risk Management 7-18 July 2013 Kuala Lumpur, Malaysia conducted by Murugesh Krishnan, Head, Country Risk Management Southeast Asia, Visa Worldwide
  • PCI Awareness Training November 2013 Kuala Lumpur, Malaysia
  • G2 Web Services Asia-Pacific Workshop 2 April 2014 Kuala Lumpur, Malaysia
  • PCI (Payment Card Industry) Acquirer Training April 2024, Online course training

Additional Info

  • Preferred Work Location Kuala Lumpur, Selangor, Putrajaya
  • Reference
  • Provide upon request
  • Other Information

About Me

  • Gender Male
  • Age 43 years
  • Address Unit W-30-01, BLK W Condo Axis Residence, Jln Cempaka,Taman Cempaka, 68000, Ampang, Selangor, Malaysia
  • Nationality Malaysia
  • Marital Status Married

Timeline

Risk Manager – Risk Operations

Paydibs Sdn Bhd
06.2025 - Current

Manager – Regulatory & Compliance (Fraud, Risk & Compliance)

U Mobile Sdn Bhd
11.2021 - 06.2025

Manager, Fraud Card & Merchant Fraud Monitoring & On Boarding

HONG LEONG BANK BERHAD
08.2019 - 06.2021

Head of Risk & Compliance

PAYDIBS SDN BHD
01.2018 - 07.2019

Fraud Manager

WIRECARD PAYMENT SOLUTIONS MALAYSIA SDN. BHD.
05.2017 - 01.2018

Manager - Payments & Fraud

Guoline eMarketing Sdn Bhd (GEMFIVE)
03.2015 - 04.2017

Fraud Control - Risk Management

GHL Systems Berhad
07.2014 - 03.2015

Assistant Vice President - Fraud Admin (Fraud Management)

Alliance Bank Malaysia Berhad
12.2011 - 06.2014

Executive, Fraud Management & Authorisation

HONG LEONG BANK GROUP ( EX-EON BANK GROUP)
02.2010 - 12.2011

Senior Executive–Acquiring Fraud Management

Alliance Financial Group (Alliance Bank)
03.2008 - 02.2010

Credit Analyst - Card Processing

MBF Cards (M) Sdn Bhd
01.2007 - 12.2007

Credit Processing Officer

EON BANK GROUP
07.2006 - 01.2007

Operations Management Officer

Focus World Vision Care Sdn Bhd
10.2004 - 07.2006

Bachelor's Degree - Business Studies/Administration/Management

HELP Institute

Primary/Secondary School/SPM/'O' Level - Buddhist Studies

Confucian Private Secondary School, KL

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Raymond Wong Yew FaiRisk Manager – Risk Operations