After introducing the Kill Switch feature early this year, Maybank has announced a new security add-on which allows users to quickly and conveniently block their credit and charge cards temporarily from any further usage. This is a new feature which customers can activate if they suspect a compromise on their card details.
According to Maybank, this new security add-on is part of its ongoing efforts to further enhance its online banking security and a strong commitment to combat online scams by empowering its customers to take immediate control. Prior to this, Maybank had allowed users to freeze their MAE card and to also temporarily deactivate their Maybank2u access. To strengthen its online banking security and to create a more secure digital platform, Maybank’s Secure2U is now the only authorisation method for online FPX transactions for all amounts since 5th April 2023.
Users can activate this new add-on feature through Maybank2u’s website or the MAE app. Once the Kill Switch for credit and charge cards is enabled, all outgoing transactions will be blocked and will not be processed.
As a security precaution, customers can only reactivate their cards through a verification process at the nearest branch or via Maybank Group’s Customer Care at 1300 88 6688. The step is required to prevent scammers or any authorised parties from gaining access to your payment cards.
Maybank’s Group CEO for Community Financial Services Dato John Chong said Maybank’s larger agenda is to create a safer digital ecosystem, one that will bolster the confidence of consumers, businesses and investors whose needs are ever-evolving, as well as propel the country for the digital leap whilst at the same time spurring economic growth for the nation.
He added, “In relation to that, we also want to stand by our customers during these challenging times and win this war together by introducing a holistic Kill Switch solution in the market that covers various angles of online banking security. More so, nowadays as scammers are becoming even bolder and more creative by coming up with new ways to orchestrate their scam tactics.”
Dato John reiterated that no matter how robust a system’s security can be, scammers will always try to use social engineering methods to deceive customers out of their hard-earned savings. He said that scam prevention is everyone’s responsibility and together we must endeavour to protect ourselves and loved ones while transacting online and be reminded to never share their account user ID and passwords, and to never click on any links in general.
In a move to combat online scams, Deputy Communications and Digital Minister Teo Nie Ching recently said the MCMC has instructed telcos to block links sent via SMS and it will be implemented in phases. The move could minimise the risk of phishing scams as victims are often tricked into clicking a link that leads to a fake login page of a bank or eWallet provider. There have been dozens of phishing scams via SMS which promise to offer cash aid or compensation for a service outage.
For more info, you can visit Maybank’s Kill Switch page.