Bank of Maldives has introduced a self-service ‘Kill Switch’ to disable access to Internet Banking and cards in emergencies as part of the ongoing efforts to enhance security and protect its customers from scams.

BML said the ‘Kill Switch’ is a single action that allows customers to immediately log out of all active Internet and Mobile Banking sessions as well as freeze their cards in case of scams, preventing any further transactions from taking place. The feature is a self- service function available on the Internet Banking login page which can be activated by customers without contacting the Bank.

“This feature has been launched as part of series of steps taken by the Bank to strengthen measures against scams. In the event a customer recognizes they have been scammed, they can now take the first step of freezing their cards and Internet Banking at any time," BML CEO and Managing Director Karl Stumke said.

According to BML, once the Kill Switch is enabled, customers will only be able reactivate their Internet Banking and cards following a stringent verification process through the Contact Centre or by visiting the nearest branch.

The Bank has taken several steps to protect customers from scams over the past months. As such, BML introduced Two-Factor-Authentication (2FA) for Internet and Mobile Banking logins in May. Prior to that, BML enabled One Time Passwords (OTP) for Scan-to-Pay payments as well as alerts for login attempts on Internet and Mobile Banking. Last year, BML introduced OTPs via authenticator apps to disable emails as a default OTP channel.

Bank of Maldives currently serves over 325,000 customers with the nationwide network of 38 branches across all 20 atolls, 87 Self Service Banking Centres, 143 ATMs, over 200 agents and a full suite of Digital Banking services.