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convenience and security.
In a statement, the bank said it was aware of the frequent cases of Internet-related frauds and scams that have resulted in financial losses to individuals and companies.
MBCAnet was upgraded in a deliberate effort to strengthen its capacity to detect unauthorised access to clients’ accounts.
Among other enhancements, MBCAnet now sends all new passwords to a client’s mobile phone rather than on printed letters as before.
This reduces the chances of unauthorised persons accessing the new password. “A ‘one-time password’ functionality has also been included. This means that MBCAnet sends a transaction specific password to a client’s mobile phone before the client can make a once-off payment or add a payee.”
An SMS alert functionality was also added to the Internet banking platform.
MBCAnet will now send an SMS to a client’s mobile phone, notifying them that they have logged on to the system.
Should there be unauthorised access to the client’s account, this functionality alerts the client to take action.
Pursuant to the enhancements MBCAnet users can no longer log on to different machines at the same time using the same log-on credentials that is, same profile number, user ID and password.
The bank said MBCAnet continues to offer tailor-made banking services under these improved product security features.
Among other features and benefits, MBCAnet users can transfer funds within and outside the bank, obtain information and initiate transactions such as statement accessing and viewing, stop cheques, and cheque book orders.
Customers can also pay their bills via MBCAnet from anywhere in the world, where there is Internet access.