Maybank has announced a new add-on function to its Kill Switch feature, allowing customers to temporarily block the usage of their credit and charge cards if they suspect that their cards have been compromised.
The company said the new additional feature can be activated via the Maybank2u website or Mae app. Once the feature has been activated, all outgoing transactions on the blocked card will not be processed.
Customers can only reactivate the card by verifying themselves at the nearest Maybank branch or through the customer service hotline at 1300 88 6688. The company said this security measure is meant to prevent scammers or any unauthorised parties from further performing any transactions with their cards.
First introduced by Maybank in January, the Kill Switch allowed users to temporarily deactivate access to their Maybank2u accounts and to freeze their Mae card. By doing so, users will be logged out of all active sessions on Maybank banking apps and website.
The bank added that since April 5, Secure2u has been the only authorisation method for online transactions for all amounts.
Datuk John Chong, Group CEO for community financial services, said that introducing a holistic Kill Switch solution is part of the company’s efforts to create a safer digital ecosystem. He added that scammers are “becoming even bolder and more creative” as they have often come up with “new ways to orchestrate their scam tactics”.
He cited social engineering methods as one of the ways scammers will try to deceive customers out of their hard earned savings.
“In regards to that, we wish to stress the fact 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 account user ID and passwords and to never click on any links in general,” he said in a media statement.
More information about Maybank’s Kill Switch is available here.
