In order to enhance security for payments made through its application, Bank of Maldives (BML) has implemented One Time Passwords (OTPs) for all QR payments. BML’s Mobile Banking app has been updated to enable customers to make Scan to Pay transactions of any amount using an OTP generated via Authenticator, SMS, or email.
BML has taken several measures to protect customers from scams, which remain prevalent. In December 2022, the Bank enabled authenticator apps to generate OTPs for all transactions processed via the Internet and Mobile Banking, even if an email account has been compromised. BML will continue its efforts to protect customers and plans to announce further enhancements to its security features at the end of March.
BML has advised customers to exercise caution, as the bank will never send SMS with website links. It warned customers to refrain from clicking on any links that may look like they are from BML, as SMS or calls can be spoofed to appear to come from trusted parties. The bank also urged customers not to open suspicious texts, pop-up windows, or click on links or attachments in SMS and emails. OTPs are used as a security measure, and customers should never share them.
