KUALA LUMPUR, Sept 30 – OCBC Bank (Malaysia) Bhd is calling on its customers to switch from one-time passwords (OTP) by SMS to the more secure OCBC OneToken to avoid fraud.
OCBC OneToken is a digital token available in the OCBC Malaysia mobile banking app that allows customers to securely generate the OTP to authorise their online banking transactions.
The token can only be activated on a single mobile phone at any given time.
Chief executive officer Datuk Ong Eng Bin said that the majority of the bank’s customers have already made the switch to OCBC OneToken.
“A significant step every customer can take to protect themselves is to switch from receiving an OTP by SMS to OCBC OneToken.
“This blocks out one of the most common ways through which fraudsters try to trick customers into divulging their personal details,” he said in a statement today.
The bank also said that it is one of the early adopters of digital tokens when it introduced OCBC OneToken in early 2019.
For more information on the OCBC OneToken, visit www.ocbc.com.my or call Personal Banking at +603 8317 5000, Premier Banking at +603 8315 4288 or OCBC Al-Amin Personal Banking at +603 8314 9310.