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Metrobank adds new security features to protect customers from online scams

Metrobank has upgraded its mobile banking app with several new safety tools designed to fight the growing problem of digital fraud. The bank introduced these changes after reviewing recent industry data. According to the Bangko Sentral ng Pilipinas (BSP), more than three out of four reported cyber fraud losses last year came from scams that trick people into giving away their personal information. These include phishing, identity theft, and account takeovers. The Metrobank app now has a 24-hour hold on all transactions whenever a user changes important details like their password or switches to a new device. This gives account holders a full day to spot any suspicious activity before money can be moved out. Customers can also freeze part or all of their balance directly from the app. Any amount that is locked cannot be used for payments or transfers until the user turns off the lock. This is meant to keep funds safe even if someone else gets hold of the account or card...
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Metrobank adds new security features to protect customers from online scams

Metrobank

Metrobank has upgraded its mobile banking app with several new safety tools designed to fight the growing problem of digital fraud.

The bank introduced these changes after reviewing recent industry data. According to the Bangko Sentral ng Pilipinas (BSP), more than three out of four reported cyber fraud losses last year came from scams that trick people into giving away their personal information. These include phishing, identity theft, and account takeovers.

The Metrobank app now has a 24-hour hold on all transactions whenever a user changes important details like their password or switches to a new device. This gives account holders a full day to spot any suspicious activity before money can be moved out.

Metrobank-new-app-features

Customers can also freeze part or all of their balance directly from the app. Any amount that is locked cannot be used for payments or transfers until the user turns off the lock. This is meant to keep funds safe even if someone else gets hold of the account or card.

The Metrobank app now checks the location of the device being used for transactions. If the system sees something that does not match the user’s usual pattern, it may flag the transaction as risky.

For transfers to other Metrobank accounts, the app shows a partially hidden version of the receiver’s name before the transaction goes through. This helps the sender confirm they are sending money to the right person.

The bank said these updates are in line with recent government rules aimed at protecting consumers from financial scams. To get it, users need to install the latest version of the Metrobank App to access all these new security options.

This article, Metrobank adds new security features to protect customers from online scams, was originally published at NoypiGeeks | Philippines Technology News, Reviews and How to's.


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