The Association of Banks in Malaysia, Association of Islamic Banking and Financial Institutions Malaysia and Association of Development Finance Institutions Malaysia are in full support of the five key measures to combat financial scams as announced by Bank Negara Malaysia. – The Malaysian Insight file pic, September 27, 2022.Tài Xỉu bóng đá hôm nay（www.84vng.com）：Tài Xỉu bóng đá hôm nay（www.84vng.com） cổng Chơi tài xỉu uy tín nhất việt nam。Tài Xỉu bóng đá hôm nay（www.84vng.com）game tài Xỉu đánh bạc online công bằng nhất，Tài Xỉu bóng đá hôm nay（www.84vng.com）cổng game không thể dự đoán can thiệp，mở thưởng bằng blockchain ,đảm bảo kết quả công bằng.
THREE associations representing the local banking industry are in full support of the five key measures to combat financial scams as announced by Bank Negara Malaysia.
The measures were announced by Bank Negara governor Nor Shamsiah Mohd Yunos at the launch of the Financial Crime Exhibition yesterday.
In a joint statement today, the Association of Banks in Malaysia, Association of Islamic Banking and Financial Institutions Malaysia and Association of Development Finance Institutions Malaysia said the banking industry acknowledges that the implementation of these measures may lead to changes in customers’ online banking experiences and expectations.
“The online banking transactions could potentially take a slightly longer duration due to added security measures and checks,” they said.
“In view of this, we humbly seek customers’ patience and understanding on the expected delays and inconvenience that they may face once these measures are implemented.
“These measures, however, are crucial for the added safety and security of the banks’ customers.”,
They said their member banks are also committed to ensuring proper communication with customers in relation to the above measures, including the implementation dates, any changes to processes and action required on the part of the customers and contact details to seek assistance.
The measures include migrating from SMS one-time password to a more secure authentication method such as via secure multi-factor authentication software or hardware tokens for certain transactions.
These transactions include fund transfers and payments, changes of personal information and account settings.
Other measures include tightening the banks’ fraud detection rules and triggers for the blocking of suspicious transactions, verification and cooling-off period for first-time enrolment of e-banking services or secure device, and restrict authentication of electronic banking transactions to one mobile device or secure device per account holder.
Banks will also have a 24/7 dedicated complaint channel/hotline for customers to report incidents or suspicions of scam/fraud, they said.
The bank associations also reminded customers to remain vigilant at all times when transacting online, including following online banking safety tips.,