CIMB Debuts In-App Kill Switch to Suspend Accounts in a Suspected Breachby Fintech News Malaysia January 19, 2023 0 comments
CIMB Bank and CIMB Islamic Bank has introduced a self-service ‘Lock Clicks ID’ feature which acts as a ‘kill switch’ for both its CIMB Clicks and CIMB OCTO apps.
The new feature will enable customers to immediately freeze their online banking ID in-app if they detect any unusual or suspicious transactions or suspect that their account has been compromised.
Once the Lock Clicks ID is activated, users will be automatically logged out of the app(s) and any new out-going transactions cannot be performed.
In order to unlock it, users will be required to contact CIMB’s contact centre and perform the necessary verification. They will then be able to access their app using their existing credentials.
CIMB also advised its customers to change their password after unlocking their CIMB Clicks ID.
The Lock Clicks ID feature is the latest enhancement to be introduced by CIMB in recent months as part of a planned series of measures to mitigate fraud.
These include the implementation of a single registered device for CIMB Clicks authentication, call verification for first-time app logins and mandatory SecureTAC authorisation for transactions of RM100 and above.
Effendy Shahul Hamid, Chief Executive Officer, Group Consumer & Digital Banking of CIMB said,
“This self-initiated feature will add an additional layer of security as part of CIMB’s market leading initiatives in line with our commitment to ensure our customers can bank securely and confidently at all times.
We will continue to introduce all necessary measures to safeguard our customers and continue working together with them to combat financial scams.”