KUALA LUMPUR (April 12): To avoid falling victim to scammers, banking associations stressed that banks will not ask for sensitive customer information, such as the online banking username and password, credit or debit card number and card verification value number, SMS one-time password (OTP) and the transaction authorisation code number, via phone calls.

In a joint statement on Friday, the Association of Banks in Malaysia (ABM) and the Association of Islamic Banking and Financial Institutions Malaysia (AIBIM) urged customers who suspect that they may have received a call from a fraudster impersonating a bank officer to immediately hang up and call the bank’s official customer service hotline instead.

“Customers who have fallen victim to scams should immediately call the National Scam Response Centre at 997 or the banks’ 24/7 customer service hotlines for assistance.

“To find the customer service hotline for any bank and learn how to identify the latest scam tactics, customers can visit www.JanganKenaScam.com.

“To quickly deactivate their online banking access or block credit/debit cards involved in fraudulent transactions, customers can also opt to use the 'kill switch' feature via the online banking platform or mobile banking app,” the associations said.

The ABM and AIBIM said in certain scenarios, such as to establish the legitimacy of a suspicious or irregular transaction, banks may call the customer to seek clarification.

“During these calls, banks may perform a verification check using partial personal information, such as requesting for the last four digits of the NRIC [national registration identification card), to ascertain the identity of the customer. This measure is taken to safeguard the customer's account and ensure the continued security of their financial information,” the associations said.

In continued efforts to protect the financial well-being of customers, they said the banking industry works 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.

“Since July 2023, the banking industry has implemented five key measures to further defend against scams, including replacing the SMS OTP with a more secure authentication method, tightening fraud detection rules, performing a cooling-off period for first-time registration of online banking access, allowing only a single mobile device or secure device to be registered, and enabling a 24/7 dedicated complaint channel for customers,” the associations added. 

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