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OCBC Malaysia introduces "Kill Switch" for customers to freeze accounts immediately if they think they have been scammed
OCBC Malaysia introduces "Kill Switch" for customers to freeze accounts immediately if they think they have been scammed
OCBC Bank (Malaysia) Berhad (OCBC Bank) has introduced the OCBC Kill Switch to enable customers to immediately freeze their banking accounts and cards via self-service interactive voice response (IVR) if they think they have been scammed.
The 24/7 service, which aims to safeguard customers against scams, is in line with Bank Negara Malaysia’s call to further strengthen measures against financial scams. The service can be accessed by calling 03-8317 5000 and pressing '8'.
According to OCBC Bank Managing Director & Head of Consumer Financial Services, Ms Anne Leh, the Bank has been working to protect its customers against online scams, and the OCBC Kill Switch is yet another initiative toward this end.
“We have been following closely the rise in scam-related banking transactions to close the gaps that fraudsters look to exploit. This has given rise to the OCBC Kill Switch, which enables the customer to take charge. So, in the event a customer recognises that they have fallen prey to a scam, they can now put in motion the first important step of freezing their accounts far more quickly than ever before.
“Once the OCBC Kill Switch is activated, no outgoing transactions – whether they're done digitally, via an ATM or at branches – can be made. Even recurring or pre-arranged fund transfers will be disabled. This will enable us to put everything on hold while an investigation is carried out,” she said.
The OCBC Kill Switch enables customers to immediately freeze their current, savings and fixed deposit accounts; recurring charges and standing instructions; and card transactions at the ATM and credit/debit cards physically and digitally. Customers can activate the OCBC Kill Switch by calling the Bank’s contact centre at 03-8317 5000 and pressing '8'.
Ms Leh added, “Our Customer Service Executives will help affected customers block access to their compromised bank account or cards, and issue new cards. Only our bank staff can deactivate the OCBC Kill Switch, and this will only be carried out after receiving verified instructions from the customer. Once the OCBC Kill Switch is deactivated, the account will return to normal and all prior settings, including GIRO arrangements and future-dated fund transfers, will be reinstated.”
Following is a step-by-step guide to activating the OCBC Kill Switch:
Customers can activate the OCBC Kill Switch without human intervention by calling the OCBC Contact Centre at 03-8317 5000. They will then be prompted to follow the procedures below.
• Press 8 to temporarily block their account.
• Enter their 12-digit NRIC number followed by the hash key.
• Enter their 16-digit credit or debit card number.
• Press 1 to confirm card number.
• Press 1 to confirm the account or card suspension.
• Press 0 at any time to speak with a Customer Service Executive, if necessary.
For more information on the OCBC Kill Switch, customers can visit the OCBC Bank website at www.ocbc.com.my and then navigate to the Help & Support page under Personal Banking.
Alternatively, customers can also call the following numbers for assistance: Personal Banking +603 8317 5000, Premier Banking +603 8315 4288, OCBC Al-Amin Personal Banking +603 8314 9310.
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