Why SecureTAC is better than SMS TAC ?

Being one of the 5 measures (click here to read) which were highlighted by BNM to safeguard online banking users, financial institutions were advised to move away from using SMS TAC (or SMS OTP) to a more secure and better method.

The largest bank in Malaysia, Maybank, said that it will fully migrate to a more secure authentication method via Secure2u by June 2023, from SMS one-time password (OTP), to heighten online banking security.

Obviously, this is in line with BNM’s steer for banks to migrate from SMS OTP to more secure authentication for online banking transactions, Maybank said in a statement.

Wait.

Firstly, tell me what is a TAC?

BNM: 5M and 3S to Combat Scams

Scams and cybercrimes have been on the rise of late, not just in Malaysia but all around the world. This is a concerning development which Bank Negara Malaysia (BNM) takes seriously.

This is especially so where these cases concern financial scams. Efforts to combat financial scams have been taken, including rolling out preventive measures, pursuing more effective and coordinated enforcement actions, and raising public awareness.

BNM requires banks in Malaysia to adopt high standards of security, especially for Internet and mobile banking services.

From time to time, BNM also issues security advisories to the financial industry highlighting the latest modus operandi (tactics) of scammers and additional security measures that banks need to implement to protect their customers' savings.

How to automatically top up my e-wallet with Maybank account?

Do you feel uncomfortable logging into your Maybank2u in public? 👀 We feel you. Keep your login details safe from the public eye when you top up your eWallets and make a secured direct payment with your linked account while you’re out and about.

Actually, you can link your Maybank2u with selected e-wallets for a faster and seamless way to top up your e-wallet without needing to log in to your online banking every time. Yeah! No need to log in again 😍

Oh I see... Now only I know that. This is especially useful for lazy people like me 🤣🤣🤣

Read below here lah...

Top 4 Industries that are Worth Investing In currently

The time value of money states that ‘a dollar today is always worth more than a dollar tomorrow’ — only if you invest that dollar to grow its value instead of stashing it away in your wallet!

Investing your money can increase its value in the long run due to its earnings potential in the interim. Investing is a great way to build your personal wealth and financial stability in the long run.

So, what are some types of Malaysia investment companies and industries that are worth investing in?