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Banking industry working with regulators, agencies to enhance customer security

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Banking Nouvelles

Association Of Banks In Malaysia,ABM,OTP

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KUALA LUMPUR: The banking industry is working closely with regulators and enforcement agencies to secure banking systems and digital platforms, enhance security measures according to the latest fraud modus operandi, and identify and freeze banking accounts associated with scammers and mule account holders as part of continued efforts to protect customers’ financial well-being.

They also reiterated that its member banks will not ask for sensitive customer information such as online banking username and password, SMS OTP or type allocation code , credit/debit card numbers or card verification value numbers via phone calls. "This measure is taken to safeguard customers' accounts and ensure the continued security of their financial information,” the statement said.

 

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