KUALA LUMPUR – CIMB Bank Bhd and CIMB Islamic Bank Bhd continue to strengthen their digital banking platform safety and combat fraud with the rollout of new security measures for the CIMB Clicks and CIMB Octo apps.
In a statement today, the banking group said the new enhancements included compulsory SecureTAC authorisation via the CIMB Clicks app for transactions of RM100 and above and a mandatory call verification process for first-time app logins.
CIMB group chief executive officer Datuk Abdul Rahman Ahmad said the new security measures are necessary towards creating a safer banking environment despite affecting banking convenience.
“We will continue to introduce additional measures progressively in order to further reduce the risk of fraud and ensure customers can perform transactions with peace of mind.
“Effective December 5, CIMB will be implementing mandatory SecureTAC authorisation for CIMB Clicks web transactions of RM100 and above, including non-favourite fund transfers, bill payments and prepaid top-ups,” he said.
Customers would also no longer be able to receive SMS TACs for these transactions and instead, they would need to install the CIMB Clicks app and approve the transactions via SecureTAC.
CIMB said it intended to extend SecureTAC authentication to include any transactions valued RM100 and below as well as non-monetary transactions by the first half of next year.
In the meantime, the banking group has urged all customers who have yet to install CIMB Clicks to download the app and turn on notifications in settings to receive SecureTAC.
It said effective December 26, new or existing users who are logging in to the CIMB Clicks and CIMB Octo apps on a new device would undergo a call verification to ensure the process is conducted by the account holder themselves.
CIMB said it has been upgrading its fraud management system on an ongoing basis to better identify potential scam indicators.
“This includes constant fine-tuning of fraud detection rules and utilising machine learning to continuously enhance predictive capabilities to safeguard customers from fraudulent activities,” it added. – Bernama, December 2, 2022
