My Bank Called me asking for Personal Details? Should I Answer it?

Had you ever encountered that your banks called you and seeking additional info from you? Should you picked up the call? Should you answered the questions being posted over the phone?

Aiyoyo... Scam call is very common nowadays. How do we know which call is legitimate or not oh?

Due to the seriousness of this matter, The Association of Banks in Malaysia (ABM) and the Association of Islamic Banking and Financial Institutions Malaysia (AIBIM) today reiterate that its member banks will not ask for sensitive customer information such as online banking username and password, and credit or debit card number via phone calls. 

However...

In certain scenarios, such as to establish the legitimacy of a suspicious or irregular transaction, banks may call customers to seek clarification. During these calls, banks may perform a verification check using partial personal information such as requesting for the last 4-digit of NRIC, to ascertain the identity of customers. This measure is taken to safeguard customers’ accounts and ensure the continued security of their financial information. 

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Customers who suspect that they may have received a call from fraudsters impersonating bank officers should immediately hang up and call the bank’s official customer service hotline instead. 

Banks would like to reiterate that they will never ask customers for the following information: 

• Credit/ debit card number and card verification value (CVV) number 
• Online banking username and password 
• SMS OTP/ TAC numbers 

In continued efforts to protect the financial well-being of customers, the banking industry works closely with regulators and enforcement agencies to secure banking systems and digital platforms, enhance security measures according to latest fraud modus operandi, and identify and freeze banking accounts associated to scammers and mule accountholders. 

Since July 2023, the banking industry has implemented the 5 key measures to further defend against scams (Click here to read BNM: 5M and 3S to Combat Scams), including:

1. Replacing SMS OTP with a more secure authentication method (Click here to read Why SecureTAC is better than SMS TAC ?);
2. Tightening fraud detection rules;
3. Performing cooling-off period for first-time registration of online banking access;
4. Allowing only a single mobile device or secure device to be registered; and
5. Enabling a 24/7 dedicated complaint channel for customers. 

Customers who have fallen victim to scams should immediately call the National Scam Response Centre at 997 or banks’ 24/7 customer service hotlines for assistance.

To find the customer service hotline for any bank and learn how to identify the latest scam tactics, customers can visit www.JanganKenaScam.com. 

To quickly deactivate their online banking access or block credit/ debit cards involved in fraudulent transactions, customers can also opt to use the Kill Switch feature via the online banking platform or mobile banking app.

If you think that this article is useful, do share this with your friends and family members. Stay alert 💋💣

Source: The Association of Banks in Malaysia (ABM)

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