Bank of Maldives enables authenticator apps to generate One Time Passwords (OTPs) for Internet and Mobile Banking transactions.

BML said customers can download and activate an authenticator such as Google Authenticator or Microsoft Authenticator to generate unique OTPs to authorise transactions. BML said the authenticator will be listed as an OTP option for transactions once activated.

The authenticator can be activated for Internet or Mobile Banking transactions and will be unique to each customer, BML said.

BML's CEO, Karl Stumke stated that “email accounts are often compromised in scam cases and as a result, OTPs sent to emails are accessed by scammers to make unauthorised transactions from customer accounts. With the introduction of authenticator apps, our customers now have an additional layer of security in their banking transactions, even if an email account has been comprised. Scams evolve over time and while we will continue our efforts to protect our customers, we urge everyone to be aware of scam tactics and never share personal information with anyone."

BML added that starting Friday, personal banking customers will also receive real-time notifications on Mobile Banking app for all the account related transactions.

BML said that email will no longer be available as a default OTP channel starting 20 December 2022, but that customers who wish to keep email as an OTP channel can enable email OTP after a verification process.