Two days ago, Bank Negara urged banks in Malaysia to stop using the OTP SMS verification system for any form of transaction as it is seen as a weak point in various fraud cases that have occurred lately.
Today Maybank responded to Bank Negara's call and confirmed that they will fully migrate to a more secure authentication method through Secure2U by June 2023 for online activities or transactions related to account opening, fund transfers and payments as well as changes to personal information and account settings.
Maybank introduced the use of Secure2U in April 2017 as a safer and easier way for Maybank customers to approve Maybank2u and MAE transactions.
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