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Maybank to fully migrate from SMS OTP to Secure2u by June 2023

28/09/2022 11:48 AM

KUALA LUMPUR, Sept 28 (Bernama) -- Maybank will fully migrate to a more secured authentication method via Secure2u by June 2023 for online activities or transactions relating to account opening, fund transfers, and payments as well as changes to personal information and account settings. 

“This is in line with Bank Negara’s steer for banks to migrate from SMS One Time Passwords (OTP) to more secure authentication for these transactions,” the bank said in a statement today.

Currently, Maybank only allows one Secure2u device per account holder (per customer) to minimise the possibility of a customer’s online banking details being compromised or used by any third party. 

As an added security measure, Maybank alerts a customer via SMS, push notification, and email when Secure2u is registered on a new device.

said this is in line with the bank’s effort to prioritise at all times the safety and security of its customers’ funds and online banking transactions.

“We remain highly committed to helping our customers to avoid being scammed by fraudsters.

“This is done through existing security measures that are already in place and as we progressively roll out more measures that can help deter or minimise the likelihood of customers falling prey to financial scams,” said group president and chief executive officer Datuk Khairussaleh Ramli

Maybank is also supportive of Bank Negara Malaysia’s announcement on Monday in relation to the measures to be adopted by banks in Malaysia to ensure higher standards of security, especially for Internet and mobile banking services, he added.

“The banking industry is committed to working together to combat financial scams which are increasingly prevalent in today’s digitalised environment,” he said.

Maybank said it has provided a dedicated 24/7 hotline for customers to report financial scam incidents. 

Customers are urged to contact the fraud hotline at +603 5891 4744 immediately if they suspect their banking details have been compromised or that a suspicious transaction has taken place or even if they would like to suspend their bank account swiftly. 

Alternatively, customers can contact Maybank Customer Care Hotline at 1 300 88 6688.

The banking group said it continuously shares informative content on its Maybank2u website and on Facebook and Instagram, in an effort to remind and create awareness among customers on the dangers of scams. 


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