BML introduces Two Factor Authentication for Online Banking Logins

Bank of Maldives (BML) has introduced Two Factor Authentication (2FA) for Mobile Banking logins as a further step to protect its customers.

According to BML, with the new update, an extra layer of security will be added to verify that the login is by the registered customer. Moreover, BML stated that 2FA will be implemented for Internet Banking within a week.

Customers will be asked to log-in in to their Mobile Banking app when it has been updated and will be required to enter an OTP (One Time Password) as a second step to the log-in process. The OTP can be generated through the authenticator app or sent to the registered mobile number.

BML have been continuously trying to protect its customers from scams evolved over time. The Bank enabled One Time Password (OTP) in March 2023 for all Scan-to-Pay transactions, as well as enabled alerts for any failed login attempts through Internet or Mobile Banking. Furthermore, BML disabled email as a default OTP channel and began sending push notifications for all Internet and Mobile Banking transactions, also introduced generating OTPs via authenticator apps.

In addition, BML encouraged its customers to use strong passwords and to change their passwords frequently. Also BML continues to urging its customers never to share personal information with anyone.

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Ibrahim Yaafiu

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