Here is the article in markdown format:
Maldives Bank Takes Steps to Enhance Online Banking Security
Bank of Maldives (BML) has rolled out new security measures for online banking users to protect them from rising cyber threats.
Enhanced Login Security Features
- Email Alerts: Customers will now receive email alerts every time they experience a failed login attempt on both Internet and Mobile Banking platforms.
- Login Activity Notifications: Customers will also receive an email notification if their Internet or Mobile Banking is disabled after three consecutive unsuccessful login attempts.
These new measures are aimed at keeping customers informed of any login activity and ensuring their accounts remain secure, said BML officials. They advised customers to immediately change their passwords if they notice any unusual login activity and warned against sharing login credentials with anyone.
Additional Security Measures
- One Time Passwords (OTPs): OTPs are now required for all Scan to Pay payments.
- Authenticator Apps: Authenticator apps have been introduced to generate OTPs, replacing email as the default OTP channel.
- Login Alerts and Push Notifications: The bank now sends login alerts and push notifications for all Internet and Mobile Banking transactions.
These new measures follow a rise in online banking scams in Maldives, with authorities warning of the growing threat posed by cybercriminals. BML’s decision to enhance its security protocols is seen as a positive step towards protecting its customers from these emerging threats.