Bank of Maldives (BML) has introduced a device management feature aimed at strengthening the security of both Internet and Mobile Banking services.
This feature actively monitors ongoing sessions and automatically logs out devices that have access to internet and mobile banking. Customers can utilize this feature to review and log out from specific devices or all devices as they see fit. With this addition, customers gain the ability to closely track the most recent device access and login locations.
"This feature is designed to thwart potential scams," the bank said.
CEO Karl Stumke highlighted the bank's continuous commitment to ensuring the safety and security of its customers.
"Our recent system updates and the introduction of critical features are part of our ongoing efforts to enhance security. These changes empower customers to take proactive measures against potential scams," Stumke remarked.
In an effort to safeguard customers and protect them from scams, the bank has recently introduced a 'kill switch.' This allows customers to promptly suspend internet banking and card services in emergency situations.
The bank has also implemented two-factor authentication for both internet and mobile banking logins. Additionally, OTP (One-Time Password) verification has been added to all scan-to-pay payments, alerting customers whenever a login attempt is made.