KUALA LUMPUR: Public Bank Bhd is ramping up efforts on banking security for customers in light of the rising trend of frauds and scams.
Public Bank said further steps to be taken included providing 24 hours assistance to customers via its Case Management Unit.
"The unit is staffed with specially trained and experienced staff to provide the necessary and timely assistance to affected customers.
"As time is of the essence, Public Bank's staff will be available to assist you 24/7," said Public Bank managing director and chief executive officer Tan Sri Tay Ah Lek.
Upon receiving a fraud or scam report, access to the customer's PBe Internet Banking and PB engage Mobile Banking will be terminated immediately.
This will prevent further unauthorised transfers while the bank expedite recovery of stolen funds.
Since March this year, customers can also self-deactivate their access to PBe Internet Banking and PB engage Mobile Banking under such circumstances via the PBe login page.
The bank said reactivation can only be done at the branch or by the staff at the Case Management Unit with the necessary verifications.
"Staying vigilant is vital and Public Bank has also stepped up its efforts to protect customers' accounts by introducing a series of counter measures in its fraud detection and prevention system based on the evolving modus operandi of frauds and scams.
"The system will flag out suspicious and abnormal transactions performed on customers' accounts and they are constantly reviewed to determine the effectiveness.
"Customers transferring to any new beneficiary via PBe and PB engage will also be prompted with a warning message to alert customers to be extra cautious before proceeding with the transfer," said the bank.
In addition, Public Bank has deployed a more secure authentication method via mobile app security token known as PB SecureSign (PBSS) on the PB engage Mobile Banking since August 2020 that can counter one of the fraud tactics by scammers using the Android Package Kit (APK).
The PBSS can only bind to one mobile device with a stringent activation process where customers who have registered PBSS on their PB engage are required to activate it via Branch, ATM or by contacting PBe Customer Support.
Public Bank will also enable transaction approval via PB SecureSign app for PBe Internet Banking by October 2022.
Similar to PB engage, customers with PBSS activated can approve transactions in a more secure authentication method.
This will replace the PBe Authentication Code (PAC) via SMS which will eventually be phased out, added the bank.