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Banks clarify that sensitive customer information is never requested via phone calls | Digital News Asia

Banks clarify that sensitive customer information is never requested via phone calls

Banks clarify that sensitive customer information is never requested via phone calls

Banks clarify that sensitive customer information is never requested via phone calls

  • Banks never request CCV, online banking passwords, or OTP numbers from customers
  • Banks perform verification checks to safeguard customers' accounts, ensure ongoing security

The Association of Banks in Malaysia (ABM) and the Association of Islamic Banking and Financial Institutions Malaysia (AIBIM) have reiterated that their member banks will not request sensitive customer information such as online banking usernames and passwords, or credit or debit card numbers over the phone. 

However, in certain scenarios, such as verifying suspicious transactions, banks may call customers to seek clarification and may conduct verification checks using partial personal information, such as the last four digits of the NRIC, to confirm the customer's identity.

This measure is taken to safeguard customers' accounts and ensure the continued security of their financial information. Customers who suspect they have received a call from fraudsters impersonating bank officers should immediately hang up and contact the bank's official customer service hotline.

Banks emphasised that they will never ask customers for the following information:

  • Credit/ debit card number and card verification value (CVV) number
  • Online banking username and password
  • SMS OTP/ TAC numbers

In continued efforts to protect the financial well-being of customers, 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 defend against scams, including replacing SMS OTP with a more secure authentication method, tightening fraud detection rules, implementing cooling-off periods for first-time online banking access registration, allowing registration on only one mobile or secure device, and providing a 24/7 dedicated complaint channel for customers.

Customers who fall victim to scams should immediately contact the National Scam Response Centre at 997 or their banks' 24/7 customer service hotlines for assistance. To deactivate online banking access or block credit/debit cards involved in fraudulent transactions, customers can use the Kill Switch feature via the online banking platform or mobile banking app. 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.

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