Banks clarify that sensitive customer information is never requested via phone calls

By:
On:
In: Technology
Tagged: ,
  • Banks always request CCV, website banking credentials, or OTP figures from customers
  • Banks perform confirmation checks to protect customers ‘ accounts, ensure ongoing security

Banks clarify that sensitive customer information is never requested via phone calls

The member banks of the Association of Banks in Malaysia ( ABM ) and the Association of Islamic Banking and Financial Institutions Malaysia ( AIBIM ) have reiterated that they will not call in sensitive customer data, such as credit or debit card numbers. &nbsp,

However, in certain scenarios, such as evaluating suspicious transactions, banks may contact customers to get clarification and perhaps do verification checks using fractional personal information, such as the last four digits of the NRIC, to confirm the customer’s identity.

This action is taken to protect customers ‘ financial data and ensure its continued protection. Customers who believe they have been called by fraudsters who pretend to be bank officers should hang up and dial the bank’s established customer service call right away.

Businesses emphasized that they never will ask customers for the following details:

  • Credit/ debit card number and card verification value ( CVV ) number
  • Online banks username and password
  • SMS OTP/ TAC statistics

The finance industry collaborates closely with regulators and police agencies to secure banking systems and electronic platforms, improve safety measures in accordance with the most recent scam practices, and detect and freeze bank accounts associated with scammers and animal account holders in ongoing efforts to protect the financial well-being of customers.

The banking sector has implemented five important measures since July 2023 to protect against scams, including replacing SMS OTP with a more secure authentication process, tightening fraud detection regulations, putting in cooling-off periods for first-time online banking access registration, allowing registration to be registered on only one cellular or safe device, and setting up a 24/7 dedicated complaint channel for customers.

For assistance, victims of scams should immediately dial the National Scam Response Centre at 997 or their banks ‘ 24/7 customer service hotlines at 997. Customers can use the Kill Switch feature via the online banking platform or mobile banking app to deactivate access to online banking or block credit/debit cards linked to fraudulent transactions. Customers can visit www. customerservice .com to find the bank’s customer service hotline and learn how to spot the most recent scams. JanganKenaScam.com.

Customers can also choose to use the Kill Switch feature on the online banking platform or mobile banking app to quickly deactivate their access to credit/debit cards that have been linked to fraudulent transactions.