CIMB takes banking fraud seriously

The financial institution is willing to work with any parties to ensure the vigilance and awareness of safe banking among the consumers

by ANIS HAZIM / pic BERNAMA

CIMB Group Holdings Bhd reaffirmed that they take the security of its banking platform seriously following the scam involving its brand recently.

Its CEO Datuk Abdul Rahman Ahmad said the bank has acknowledged the rising cases of fraud and scams related to banking industry

“We take the issue extremely serious, and we have layers and layers of security features to ensure we minimise any security or fraud incidents,” Abdul Rahman told reporters at the CIMB’s quarterly results virtual briefing recently. 

He said the group is willing to work with all parties to ensure the vigilance and awareness of safe banking among the consumers.

“I think security and fraud are a joint responsibility between both the bank and the customer, and it is extremely important.

“We are happy to work with all parties to ensure customers are very vigilant and very careful not to click on any phishing sites as well as not to share their personal details to any parties,” he stressed.

Recently, Malaysian nephrologist Dr Rafidah Abdullah took to Twitter to complain about CIMB’s security measures after losing her money amounting to RM13,000 from her account without any transaction activation code verification.

Touching on mobile payment technologies such as Apple Pay and Google Pay, the CEO said CIMB is currently exploring and focusing in the mobile payment.

“I believe this is something that we will continue to explore further and will be addressing this very soon,” he said.

Previously, CIMB group chief technology and data officer Ros Yusoff was quoted saying that the Apple Pay feature will come sometime in the second half of 2023.