StanChart Malaysia strengthens digital banking security to combat financial fraud

Standard Chartered Malaysia head of consumer, private and business banking Sammeer Sharma

KUALA LUMPUR: Standard Chartered Malaysia (StanChart) will strengthen its digital banking security features on June 25, in line with industry efforts to combat financial fraud in the country.

The bank, in a statement, said the enhancements include replacing SMS one-time passwords (OTPs) with the SC Mobile Key as the bank’s transaction authorisation method, as well as the introduction of a kill switch to enable clients to self-deactivate their digital banking account access should they suspect that they have fallen prey to a scam.