As part of its efforts to increase online security in line with Bank Negara Malaysia’s direction, CIMB is imposing new security measures starting 5th December 2022. This includes implementing mandatory SecureTAC authorisation and mandatory customer call verification process for first-time app logins.
CIMB requires SecureTAC for transactions of RM100 and above
From next Monday, 5th December 2022, all CIMB customers are required to use SecureTAC to authorise CIMB Clicks Web transactions of RM100 and above which include non-favourite fund transfers, bill payments and prepaid top-ups. SMS TACs will no longer be used for these transactions and all customers will have to use SecureTAC on the CIMB Clicks app which is available on Apple App Store, Google Play Store and Huawei AppGallery.
CIMB plans to impose SecureTAC authentication to include any transactions of RM100 and below as well as non-monetary transactions by the first half of 2023. All CIMB customers are urged to install the CIMB Clicks App and to enable notifications in Settings to receive the SecureTAC.
Call verification for first-time CIMB Clicks and CIMB Octo App login
Starting 26th December 2022, CIMB will require all new users or existing users who are logging in to CIMB Clicks or CIMB Octo apps from a new device, to undergo a call verification process to ensure that only account holders are logging into their own accounts. When the first login is performed, customers will need to call CIMB’s Consumer Contact Centre at 03-62047788 (open 24 hours a day) to verify the registration of a new device.
Alternatively, CIMB will also contact the customer for verification within 24 hours from the first login from a new device. If a customer didn’t respond or is not contactable within 24 hours, the CIMB Clicks ID will be deactivated as a safety precaution. CIMB also plans to implement a new rule to enhance the verification process by the first half of 2023 by requiring customers to call the bank to activate their account first before they can begin using it.
Commenting on the new measures, CIMB Group’s CEO Dato’ Abdul Rahman Ahmad said “CIMB is committed to implementing stringent security measures to protect our customers against scams, in line with Bank Negara Malaysia’s direction on additional measures to strengthen banking security to combat fraudulent activities. Whilst these new measures may initially affect banking convenience, we believe they are necessary steps towards creating a safer banking environment. We will continue to introduce additional measures progressively in order to further reduce the risk of fraud and ensure customers can transact with peace of mind.”
CIMB says they have been upgrading its fraud management system on an on-going basis to better identify indicators of potential fraud and scams. This includes fine-tuning fraud detection rules and utilising machine learning to continuously enhance predictive capabilities to safeguard customers from fraudulent activities.
The bank also reminded all customers to only download their CIMB Clicks or CIMB Octo apps from genuine app stores such as Apple App Store, Google Play Store and Huawei AllGallery. Customers should never download apps from links or unknown sources. To ensure a secure online banking environment, CIMB has limited the downloads of its apps for smartphones and devices running at least Android 9 and iOS 12 and above. CIMB also reminds customers that they will never ask for their personal log-in ID, password or debit pin during its call verification process.
CIMB has recently implemented a single-device authentication for CIMB Clicks which will only allow one device to access the app. Users who are using two registered devices for the app will be migrated to a single device by March 2023. If you have CIMB Clicks installed on your second phone, it is advisable to deactivate it and use just a single primary device for authentication.
Related reading
- CIMB Clicks: You can only have one registered device starting at the end of October. Here’s what you need to do
- BNM bans sending one-time password via SMS and introduces new safeguards to combat rising scams
- Doctor loses RM13k from her CIMB Bank account at 2am, claims no OTP required
- CIMB Octo: CIMB’s new mobile banking app, full features to be released by H1 2023
