27 October 2022

Statement on Alliance Bank’s Commitment to Protect Customers against Financial Scams


Alliance Bank Malaysia Berhad (“Alliance Bank” or the “Bank”) is continuously strengthening security measures in accordance with the five key measures to combat financial scams, as announced by Bank Negara Malaysia (“BNM”).

As part of our ongoing fraud detection and prevention initiatives, customer transactions are monitored in real-time. The Bank will reach out to customers via phone call or SMS for any suspicious transactions. We also provide 24-hour assistance via dedicated scam reporting hotline, and customers are strongly encouraged to immediately contact 03-5516 9800 if they notice any suspicious banking transaction. Alternatively, customers can contact our Customer Service at 03-5516 9988 (consumer banking) or 1300-80-3388 (business banking).

To continue educating and raising awareness among our customers, we regularly publish information on potential scams and fraud on our official website, Facebook, Instagram as well as the allianceonline and Alliance BizSmart® Online Banking platforms.

At the same time, we are currently migrating all our allianceonline customers from SMS One Time Password ("OTP") for internet banking transaction authentication to a more secure multi-factor Mobile Secure Approval (MSA) authentication method via our consumer mobile banking application (allianceonline mobile). For our Alliance BizSmart® Online Banking customers, the use of TAC SMS will be changed to authentication via push notification from Alliance BizSmart® Mobile application. This measure will address security risks faced by the industry today associated with SMS OTP, which is transient and less secure for authenticating internet banking financial transaction and services.

Customers are advised to remain vigilant and be aware of these alerts to stay updated on the latest scam approaches to protect themselves