Bank of Maldives BML says its customers can now add BML cards to their PayPal accounts after the bank unblocked all merchants on the e-payment platform.
In a statement, BML said that with a large increase in the number of unauthorized transactions, it had recently blocked selected PayPal merchants to minimize exposure of its customers to fraudulent transactions.
BML said that this measure was taken in line with standard practice to protect BML customers and as a result of blocking these merchants, customers also faced an issue in linking BML cards to their PayPal accounts.
But the bank has now reverted the decision and said that customers can now add their BML cards to their PayPal accounts.
The Bank said that it would continue to monitor for fraudulent transactions and if similar incidents arise and that it would take steps to safeguard its customers and block merchants where necessary.
It emphasized that all BML issued cards are protected by 3D-secure authentication to validate purchases, prevent unauthorized use, and prevent financial loss for customers.
It advised all its customers to review card and account activity for transactions that they may not recognize and inform the Bank of any suspicious transactions.
BML added that unauthorized transactions must be disputed no longer than 30 days after the date of the transaction.
