Hong Leong Bank Introduces ‘Emergency Lock’ and ‘Cooling Off Period’ Security Features to Further Strengthen Customers’ Online Banking Security
Hong Leong Bank Introduces ‘Emergency Lock’ and ‘Cooling Off Period’ Security Features to Further Strengthen Customers’ Online Banking Security
Kuala Lumpur, 21 March 2023 – Along with existing multi-layered security in place, starting March 2023 onwards, Hong Leong Bank and Hong Leong Islamic Bank (“HLB” or the “Bank”) have enabled the Emergency Lock for both the HLB Connect online as well as the mobile banking app as part of the Bank’s ongoing efforts to promote safer online banking practices. With Emergency Lock, customers can quickly block their account(s) if they suspect they have fallen prey to a scam, without needing to contact the bank call center first. This provides a faster and more convenient way for customers to take immediate action and protect their accounts.
The Emergency Lock allows customers to take action to restrict activity on their bank account(s) if and when they suspect their account(s) has been compromised, notice fraudulent transactions, or realise they are victims of scams anytime, anywhere. Activating this will limit the account(s) with ‘View Only’ access, with no transactions allowed to take place. Customers can still log in to review their account details and balance, and any existing scheduled instructions or recurring transactions will continue without any interruptions when the Emergency Lock is activated.
Customers are advised to immediately contact the HLB Contact Centre after activating the Emergency Lock to get guidance on their next steps, including instructions to deactivate the lock.
HLB has also rolled out another enhanced security measure, the Cooling Off Period. The Cooling Off Period will be activated when customers set up their HLB Connect mobile banking app and enable AppAuthorise for the first time on a new device or when they increase their daily online transaction limit. This allows for a period of time where customers can review their proposed account activity and take necessary actions if they suspect that they have been scammed or online/mobile banking access has been compromised. By providing this "pause" period, customers can take proactive action to reverse or stop suspected compromised activities.
Following the Cooling Off Period, customers will have the ability to conduct online transactions using the AppAuthorise function to approve their transactions. It's important to note that any changes to their transaction limit will only come into effect after the Cooling Off period has ended.
Domenic Fuda, Group Managing Director and CEO of HLB said “The safety of our customers is of utmost priority to us and we have always remained steadfast in our commitment to ensure that our customers are able to bank with us with peace of mind. Along with our current multi-layered security in place, we believe that these new online banking safety measures will allow customers to continue to enjoy the convenience of online banking with confidence.”
To make it convenient and easier for customers to report incidents or suspicious activities, customers can reach out to the Bank through a dedicated 24/7 call center at 03-7626 8899, email or chat with a representative via the HLB Connect mobile banking app.
For more information on these new security features, please visit: http://www.hlb.com.my/connectsecurity
