KUALA LUMPUR (June 28): Malayan Banking Bhd (Maybank) has announced its migration to Secure2u from SMS OTP for online banking services such as bill payments, DuitNow, FPX and IBG transactions as part of key measures to combat financial scams.

The move allows its customers to securely approve online banking transactions and update their personal information via Secure2u, it said in a statement on Wednesday (June 28).

While the binding of one Secure2u device per customer account helps minimise the possibility of scammers performing unauthorised transactions via another device, it also encourages customers with business accounts to practise cyber hygiene and financial management with the independent authentication method, said the bank.

Additionally, Maybank has implemented a cooling-off period for first-time or different device enrolment of Secure2u, has tightened fraud detection rules for suspicious transactions, has removed hyperlinks from SMSes, and has a dedicated 24/7 fraud hotline for customers as well as a self-serve Kill Switch to deactivate online banking access and block credit and debit cards.

Maybank group president and chief executive officer Datuk Khairussaleh Ramli said: “We will continue to help our customers prevent financial loss and save their monies. Due to the rising number of fraud modus operandi this year, the number of calls from customers regarding report messages, calls and phishing sites increased significantly.”

Maybank encourages its customers to safeguard their online banking credentials and not share passwords with friends or family, as well as be aware and observe good online banking behaviour such as:

1. Avoid installing/downloading apps/Android Package Kit (APK) files and be alert if prompted to download a file that is not compatible with the device used i.e. Apple device being asked to download an APK file.
2. Avoid clicking on suspicious links sent via chat messages such as SMS, WhatsApp, Messenger or other similar services.
3. Do not provide permission for any app to send or view SMSes.
4. Do not key in your online banking details in any suspicious apps or websites.
5. Only download apps from the genuine app stores such as Apple App Store, Google Play Store or Huawei AppGallery and not from a link.
6. Always look out for your personalised online banking security image and phrase (i.e. Maybank2u security image and phrase), to ensure the website and app are legitimate.
7. Do not root or jailbreak your devices.
8. Update your devices’ operating system and apps regularly.

Khairussaleh said: “Customers who are victims of financial scams should immediately call our 24 hours, seven days a week fraud hotline at 03–5891 4744 to get assistance in deactivating the online banking access or the blocking of cards involved in the scam. Customers can also opt to use the Kill Switch feature on the MAE app to quickly deactivate their access for personal convenience.”

All Secure2u authorisation will be transferred to the MAE app to ensure a safer banking experience for customers on July 1, 2023. Customers are given access to seamlessly approve transactions performed on Maybank2u web, Maybank2u app and MAE app via Secure2u on MAE app. The bank urges its customers to download the MAE app to avoid any disruption to their online banking experience.