16th March 2023 - 2 min read
CIMB Bank has announced that customers will be required to approve all FPX transactions above RM100 via SecureTAC starting from 19 March 2023. This is as the bank strives to improve its online banking security for customers, as well as to minimise the risk of fraud.
In its notice, CIMB also stressed that the SecureTAC approval has to be carried out via the CIMB Clicks app for all customers, including those who are currently using the CIMB OCTO app – a separate mobile banking app that currently complements the CIMB Clicks app. This is as the CIMB OCTO app is still in its early development stage, and does not support the SecureTAC function at present.
“As such, you will need to perform this approval via CIMB Clicks app. We will continue to update more features over time,” CIMB further said.
Briefly, CIMB’s SecureTAC lets you authorise your transactions with an in-app one-tap approval method, replacing the previous six-digit SMS TAC sent via a third-party telco service provider that needs to be keyed in manually. It is said to be more secure, protecting your transactions with enhanced encryption, and is more convenient too. Additionally, the SecureTAC feature is in line with Bank Negara Malaysia’s directive for banks to adopt five additional safeguards to shore up their online banking security systems.
This latest development is a follow-up to CIMB’s earlier update, which required customers to approve all CIMB Clicks online/web transactions of RM100 and above using its SecureTAC feature on the CIMB Clicks app. This includes transactions such as non-favourite fund transfers, bill payments, and prepaid reloads.
You can download the CIMB Clicks app from Google Play, the App Store, and Huawei AppGallery.
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