Breaking News
BN and PAS to announce Melaka candidates tomorrow
MELAKA, Oct 23 — Barisan Nasional (BN) will announce its candidates for the Melaka State Election,
...Kuching international school beefs up security with three police officers after teacher attacked
KUCHING, Oct 22 — Tunku Putra-HELP (TPH) International School has confirmed that it will immediately enhance
...Civil servants effectively banned from using Waze app due to Israel ties
KUALA LUMPUR, Oct 21 — Civil servants have been banned from using the Waze navigation app with
...Govt looking at tougher penalties to tackle cable theft across public transport sector
KUALA LUMPUR, Oct 20 — The Transport Ministry is in the midst of drafting necessary measures
...Flood victim count at PPS records slight increase; Royal Malaysian Navy sends 100 personnel to Pangkor
IPOH, Oct 19 — A total of 156 flood victims from 50 families are seeking shelter
...Father and daughter killed as container crushes car in Sepanggar, police detain driver
KOTA KINABALU, Oct 19 — A 49-year-old trailer driver has been detained to assist investigations after
...
Maybank strengthens online security with 12-hour cooling-off period for transfer limit increases starting July 31
KUALA LUMPUR, July 17 — Maybank is introducing a new security measure to combat online banking fraud.
Effective July 31, a 12-hour cooling-off period will be implemented for all requests to increase transfer limits on their Maybank2U platform, the bank said on its website today.
The bank said the move would enable customers to take preventive steps such as contacting customer care to temporarily block accounts or halt transactions, in the event of scammers increasing transfer limits before they perform unauthorised transactions.
Customers could also activate the Kill Switch through the bank’s website or the MAE app.
Importantly, regular transactions within existing limits are still possible during the cooling-off period, it said.
In the bank’s FAQ, it said the cooling-off period applies to all transfer limit increases, including:
* Third-party transfers (Maybank to Maybank)
* Interbank transfers (DuitNow, DuitNow-Transfer, and GIRO)
* FPX and DuitNow Online Bank/ewallets
Customers will be notified via the MAE app or SMS when the cooling-off period begins and ends.
Maybank said the move aligns with Bank Negara Malaysia’s guidelines for high security standards in internet and mobile banking.
It builds upon existing efforts by the Association of Banks in Malaysia, which reported successfully preventing RM383 million in fraudulent transactions during 2023.
Maybank’s cooling-off period joins other measures to fight online scams, such as replacing SMS one-time passwords and requiring a wait time for new online banking enrolments.
