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In line with BNM's initiative for banks to migrate from SMS OTP to a more secure authentication for online activities or transactions, Maybank has announced that it will fully migrate its secured authentication method to Secure2u by June 2023.https://t.co/VUNOEC1zAP
— Focus Malaysia (@FocusMalaysiaMY) September 28, 2022
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After banks phase out OTPs, what’s next for customers? https://t.co/3AiPXmUGYV
— TheVibes.com (@thevibesnews) September 27, 2022
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2. Governor Nor Shamsiah Mohd Yunus says financial institutions will further tighten fraud detection rules and triggers for blocking suspected scam transactions.
— BFM News (@NewsBFM) September 26, 2022
This includes immediately alerting customers when suspicious activity involving their banking accounts is detected.
4. “Financial institutions have also been directed to facilitate efforts to recover and protect stolen funds,” Nor Shamsiah says.
— BFM News (@NewsBFM) September 26, 2022
Banks are also required to facilitate customers in suspending their accounts if they suspect that the accounts have been compromised.
6. She adds that BNM will work with the police, MCMC and the National Anti-Financial Crime Centre (NFCC) to strengthen the CCID Scam Response Centre’s role as a systematic information sharing platform.
— BFM News (@NewsBFM) September 26, 2022
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weehingthong 