Bank of Maldives (BML) introduces two-factor authentication (2FA) feature for mobile banking logins.
The new security update adds an extra layer of verification, to ensure that the login is by the registered customer, and will be available to all registered internet banking customers.
Following the update, customers are required to enter a one-time password (OTP) as the second step to the log-in process, which will be generated from the authenticator app or sent directly to the customer’s registered mobile number.
BML has requested all registered internet banking customers to update the app to access the new feature. With the added security layer, the username for the online banking account will be sent directly to the registered mobile number, and the password will be sent to the registered email address of the customer.
This is the latest in the series of BML’s continued efforts to increase security features for online banking to ensure protection of customers’ data. This fortification of security features follows a string of scam activities that resulted in several of BML customers being swindled from their money held in the bank’s accounts.