Security
CIMB Debuts In-App Kill Switch to Suspend Accounts in a Suspected Breach
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
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The Growing Threat of Cybercrime as a Service to Asia’s Financial Institutions
The growth of internet usage, online banking, and digitalization of financial services has increased cybercrime and cyber criminals’ attack surface. Financial institutions are a prime target for cyber-attacks due to the large amounts of data and money they hold. In
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OCBC Malaysia Rolls Out Kill Switch Available 24/7 to Combat Rising Scams
OCBC Malaysia has beefed up its security measures by introducing a kill switch that will enable its customers to immediately freeze their bank accounts and cards if there is any suspicion of fraud. Available 24/7, the OCBC Kill Switch is
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iPay88 Names Zainol Zainuddin as Its Chief Technology Officer
Payment gateway provider iPay88 announced that it has appointed Zainol Zainuddin as its new Chief Technology Officer (CTO). In his new role at iPay88, Zainol will be in charge of development, innovation and transformation of IT strategies. Additionally, he will
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TNG to Implement Bank Grade Security Measure Imposed by BNM
Touch ‘n Go eWallet announced that it has come forward to be the first startup and non-bank provider that has committed to voluntarily incorporate the five key measures which have been recently imposed on banks by Bank Negara Malaysia to
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Malaysia Sets up National Scam Response Center to Coordinate Rapid Responses
The Malaysian government has set up a National Scam Response Center (NSRC) to streamline coordination between agencies for rapid response towards online financial scams. The command center is a joint effort between the National Anti-Financial Crime Center (NFCC), Polis Diraja
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CIMB Beefs up Security Measures as Mandated by Bank Negara Malaysia
CIMB and CIMB Islamic Bank announced that it is on track to fully implement the enhanced security measures against scam as announced recently by Bank Negara Malaysia (BNM). The bank has already implemented SecureTAC approval via its CIMB Clicks app
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Maybank to Fully Shift From SMS OTPs to Secure2u by June 2023
Maybank announced that it will fully migrate to a more secure authentication method via Secure2u by June 2023. This applies to online activities or transactions relating to account opening, fund transfers and payments as well as changes to personal information
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BNM: Banks Will Enforce Additional Measures to Combat Rising Financial Scams
There will be five additional measures that will be undertaken by the banking industry to combat financial scams, says Governor of Bank Negara Malaysia (BNM), Tan Sri Nor Shamsiah Mohd Yunus. The Governor announced this at a virtual exhibition by
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Open APIs, Digital Banking and Hybrid Work — How TM One Protects its Clients from Cyber Threats
The pandemic accelerated digitalisation to levels never before seen, forcing the financial sector to evolve quickly or risk being left behind. In addition to pivoting to a remote workforce, financial sector also embraced digital banking and open application programming interfaces
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