Male’, Maldives – Bank of Maldives (BML) has unblocked the worldwide online payment system, PayPal, after blocking the system following unusual and unauthorized deductions from the Banks’ customers through PayPal.
Speaking about the matter, Bank of Maldives said that the decision to block all PayPal merchants was to safeguard the customers of the bank from fraudulent transactions and that it was done in line with the standard practices to protect the customers.
As a result of blocking the PayPal merchants, many customers faced issues in linking their BML cards to their PayPal accounts, revealed that bank. However, according to the bank, the all merchants of PayPal have now been unblocked and customers can resume adding their BML card to their PayPal accounts.
BML reassured that it would continue to monitor for fraudulent transactions and if similar incidents arise, necessary steps would be taken to safeguard the customers and block merchants where necessary.
The Bank highlighted that all BML issued cards are protected by 3D-secure authentication to validate purchases, prevent unauthorized use and prevent financial loss for customers. All customers of the bank were urged to review card and account activity for transactions they may not recognize and inform the bank of any suspicious transactions. It was also highlighted that such transactions must be disputed no longer than 30 days after the date of the transaction.
