i-Muamalat Secure

From July 2023 onwards, Bank Muamalat customers face numerous issues due to changes in the transaction authorisation process.

If you are among the impacted users, you can continue reading to learn about the new i MSecure token registration. Before logging into i-Muamalat and conducting transactions, it is necessary to register i-MSecure and activate i-MSecure.

What is i-Muamalat Secure?

i-Muamalat Secure is a secure and innovative way to authorise transactions worth RM10,000 and above. Even though users called it i-Muamalat Secure, the correct term is known as i-Muamalat i-MSecure.

The i-Muamalat Secure utilises a software token integrated into the i-Muamalat mobile apps, incorporating a two-factor authentication (2FA) feature for added security.

This exclusive feature is accessible through the new i-Muamalat mobile apps, which can be downloaded from the Google Play Store or Apple Store.

How to use i-Muamalat Secure?

To utilise this i-Muamalat Secure enhanced transaction authorisation method, customers must first register for i-MSecure and activate i-MSecure as soon as possible.

With this feature, users can conveniently approve or decline i-Muamalat transactions directly from their smartphones, ensuring both convenience and security.

Is i-Muamalat Secure required only for transactions of RM10,000 and above?

No, i-Muamalat Secure authorisation is for all transactions, regardless of the amount. It is not only for transactions worth RM10,000 or more.

Before July 2023, i-Muamalat Secure authorisation is required for transactions above RM10,000.

i-Muamalat Secure is an advanced and highly secure authorization system that ensures the protection of sensitive information during high-value transactions.

Implementing i-Muamalat Secure as a mandatory requirement for transactions worth RM10,000 or more ensures an additional layer of security and minimises the risk of fraud or unauthorised access.

This i-Muamalat Secure utilizes state-of-the-art encryption techniques and multi-factor authentication, making it almost impossible for malicious entities to gain unauthorized access to the transaction.

This not only safeguards the interests of the users but also enhances the overall trust and confidence in the financial system.

With i-Muamalat Secure, individuals and businesses can conduct high-value transactions with peace of mind, knowing their financial information is protected.

Do I still need to use i-Muamalat Secure for transactions below RM10,000?

Yes, you do need to use i-Muamalat Secure for all transactions. Any transaction below RM10,000 will require i-Muamalat Secure authorisation.

Effective July 2023, all transactions below or above RM10,000 will require i-Muamalat Secure authorisation. Bank Muamalat is not using the previous authentication method involves using the Transaction Authorisation Code (TAC) sent via SMS.

Is Transaction Authorisation Code (TAC) sent via SMS still safe for i-Muamalat banking?

Using Transaction Authorisation Code (TAC) sent via SMS for banking transactions has been a common practice for many years. While it has generally been considered safe, some security concerns are associated with this method.

Please be aware that SMS-based TACs can be vulnerable to various forms of attacks, such as SIM swapping, phishing, or malware on the user’s device.

Many financial institutions like Bank Muamalat are moving towards more secure methods such as i-Muamalat Secure with tokens to enhance security.

These methods provide stronger authentication and encryption, making them less susceptible to attacks.

In the event of a suspected hacking incident, it is advisable to utilise i-Muamalat Kill Switch feature to halt any unauthorized access.

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