KUALA LUMPUR, July 17 — Maybank is introducing a new security measure to combat online banking fraud. Effective July 31, a 12-hour cooling-off period will be implemented for all...
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Thai police looking for seventh man after six foreigners found dead in posh Bangkok hotel, source says case may be debt-relatedEffective July 31, a 12-hour cooling-off period will be implemented for all requests to increase transfer limits on their Maybank2U platform. ― Picture by Firdaus LatifKUALA LUMPUR, July 17 — Maybank is introducing a new security measure to combat online banking fraud.
The bank said the move would enable customers to take preventive steps such as contacting customer care to temporarily block accounts or halt transactions, in the event of scammers increasing transfer limits before they perform unauthorised transactions.Importantly, regular transactions within existing limits are still possible during the cooling-off period, it said.Maybank said the move aligns with Bank Negara Malaysia’s guidelines for high security standards in internet and mobile banking.
Maybank’s cooling-off period joins other measures to fight online scams, such as replacing SMS one-time passwords and requiring a wait time for new online banking enrolments.
Online Security Bank Fraud Maybank
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