PETALING JAYA: Hong Leong Bank has introduced "emergency lock" and "cooling-off period" features for its HLB Connect online banking service.
Customers who suspect that they have fallen victim to a scam or believe that their banking account has been compromised can activate the "emergency lock" to prevent transactions from being conducted on its online service and app.
They will still be able to view their account balance and be able to use their debit and credit cards "outside" of the online service and app, say, in a physical store.
Also, recurring and scheduled transactions (for example, automated bill payments) will not be affected by this feature.
The emergency lock can be triggered from the browser or mobile app, and the steps can be found on its website.
The "cooling-off period", on the other hand, prevents new transactions from being made for a set duration if AppAuthorise – which allows customers to approve transactions – was set up on a new device or the transaction limit was changed.
The cool-off duration will be shown during the app setup.
Hong Leong Bank is the latest bank to introduce enhanced security measures, with the "emergency lock" functioning similarly to a "kill switch" implemented by other banks, including Maybank and CIMB, earlier this year.