Bank Islam Brunei Darussalam, BIBD, is committed to enhance the country's financial stability and guarantee the safety of all customer deposits at all times. BIBD in its press release said that as a systemically important bank in Brunei Darussalam, the spread of baseless rumours, accusations, slander or irresponsible social media posts may cause undue public concern or undermine public confidence and have a negative impact, can harm the stability of the financial system. As a follow-up to the announcement made by BIBD on 2nd April 2024, BIBD would like to clarify a few matters.

For account holders who only have passbook account without 'BIBD NEXGEN' online banking facilities, online transfers are impossible without online banking facilities. Account holders who apply for and are granted a Debit Card, will receive a secret pin, which only the account holder himself knows. BIBD staff does not have access to the pin code details. If the account holder applies for and registers the 'BIBD NEXGEN' online banking facility, the account holder will receive additional confirmation via 'One-Time-Password', OTP sent as an SMS to the account holder's registered phone number during registration. Login also requires the account holder's password and secret PIN.

As outlined in previous announcement, BIBD is governed by highly restrictive customer confidentiality rules, limiting the Bank's ability to disclose information and case details that may be related to criminal, fraudulent or illegal activity. For example, the Criminal Assets Recovery (Amendment) Order 2023 mandates BIBD to implement adequate safeguards to ensure the confidentiality of shared information, including measures to prevent 'tipping-off'. In this regard, BIBD is restricted from sharing any information or details regarding any case that is currently under active investigation. BIBD also emphasised that spreading false reports or statements that may affect public order can be an offence under the Public Order Act Section 148 and BIBD has the right to take legal action against the parties responsible for the act.

BIBD remains committed to implement security measures and collaborate with law enforcement agencies in Brunei Darussalam to conduct a comprehensive investigation. The effectiveness of this cooperation was highlighted by the arrest of 7 individuals linked to the telephone fraud syndicate. In BIBD's continuous efforts to understand and reduce risk, the bank also received several complaints from customers regarding cases of unauthorised fund transfers. Among them, unauthorized access such as sharing login details; and Account takeovers, such as lending or renting out' accounts. BIBD has always and will continue to enforce strict protocols to protect accounts belonging to BIBD account holders from security threats. BIBD would like to assure the public that the BIBD NEXGEN mobile banking platform is safe and secure.

BIBD also has a zero tolerance policy for fraud, whether committed by outsiders or insiders. Account holders are advised to protect their account details and not share them with anyone.

Source:
RTB NEWS

by RTB NEWS

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