Maybank2u and MAE app add ‘kill switch’ feature to combat online scams


The “kill switch” can be triggered via both the Maybank2u and the MAE app. Maybank has included the appropriate steps on their website. — KHOR SOW YEE/The Star

PETALING JAYA: Maybank has become the latest bank to include a “kill switch” which allows customers to freeze online banking access on both the Maybank2u website and MAE app.

The feature serves as a security measure for those who may have fallen victim to scams that compromised their online banking account.

“If you suspect that you are a victim of an online scam, you can protect your funds by using the Kill Switch to temporarily deactivate your Maybank2u access via the MAE app or Maybank2u web.

“Once you have deactivated your Maybank2u access, you will automatically be logged out from all active sessions on the MAE app, M2U MY app and Maybank2u web.

"This will block any further login attempts and safeguards the funds in your accounts," said the bank in an announcement on its website.

The “kill switch” can be triggered via both the Maybank2u and the MAE app. Maybank has included the appropriate steps on their website.

Even with the account temporarily disabled, customers will still be able to make regular withdrawals at ATMs and use their physical debit or credit cards.

Customers will need to call the Maybank Group Call Centre (MGCC) at 1300-88-8866 to reactivate the account, or alternatively make an in-person visit to a Maybank branch.

CIMB introduced their own "kill switch" feature earlier this month, while OCBC did so in late December last year.

The move to introduce this security feature happens amidst the efforts of Malaysian banks to implement Bank Negara Malaysia's (BNM) five key measures to combat financial scams by June this year.

The measures include transitioning from SMS one-time passwords (OTP) to a more secure authentication method; tightened fraud detection rules; verification and cooling-off period for first-time enrolment of ebanking services; allowing only a single mobile device or secure device to be registered; and a 24/7 dedicated complaint channel for customers.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Tech News

US power, tech companies lament snags in meeting AI energy needs
Meta releases early versions of its Llama 3 AI model
Exclusive-Microsoft's OpenAI partnership could face EU antitrust probe, sources say
Seeking edge over rivals, Intel first to assemble ASML's next-gen chip tool
TSMC estimates losses of $92.4 million due to Taiwan earthquake
Exclusive-Northrop Grumman working with Musk's SpaceX on U.S. spy satellite system
Binance working closely with Nigeria authorities to resolve exec's detention, CEO says
Critics of India's Modi migrate online as mainstream media stays deferential
3,000-member revenge porn group had underage victims, US officials say. Creator arrested
Huawei unveils new phone lineup to ramp up the pressure on Apple

Others Also Read