During the Lunar New Year celebrations, the ‘angpao’ tradition is a must-have every year. The act of passing cash in red envelopes to children and those unmarried continues to be practised among every Chinese family. However, things will be different this year due to the pandemic as many may not be able to travel or visit their family.
Nevertheless, traditions need to continue. While the physical act of passing angpaos cant happen, technology has enabled the process to be done virtually. Today, sending angpaos can be done online via QR codes through e-wallets and online banking. One such bank that is hoping to see increased usage of virtual angpaos is Maybank.
Maybank is expecting a continued rise in e-Angpao adoption and targets a 100% growth in both number and value of e-Angpao transactions this Chinese New Year, as Malaysians become even more digitally adept and the mobility restriction remains in place throughout the country.
Spurred on by the encouraging response in 2020, where the number of transactions increased to 840,000, the bank sees its e-Angpao service growing in 2021 as more customers become comfortable with the notion of sending e-Angpao during Chinese New Year, especially in the new normal.
Dato’ John Chong, Group Chief Executive Officer, Community Financial Services of Maybank said that the Bank expects close to 1.7 million e-Angpao transactions amounting to over RM 60 million to be sent by customers during the festive season this year.
“In light of the pandemic, the e-Angpao service provides our customers who are unable to meet with their families this Chinese New Year, a safe and convenient way to participate in the cherished tradition. We hope that the e-Angpao will be able to give them a sense of normalcy and a chance to bond with their family members despite having to physical distance to keep everyone safe”, he said.
While the process seems simple and straight forward, many are still advised to be vigilant. According to an advisory statement by the bank, users are warned about a fake Maybank2U website that is being used by scammers for phishing attacks.
The statement by the bank said users are being lured to the fake website through a promotional post on Facebook promising prizes. The post instructs users to click a link which will direct them to the fake site, requiring them to input their username and password, which could be used by scammers to gain access to their accounts.
Maybank urged users to be more vigilant, including to check the website URL or key in the address directly into their browser instead of clicking on links provided by others. It also reminded users not to be fooled by promotions, especially when they are too good to be true, as they are commonly employed by hackers to trick people into visiting a fake website.
Apart from fake banking websites, there have been reports of online scammers attempting to lure victims by creating fake apps bearing the logo of the central bank, Bank Negara Malaysia and also targeted Employees Provident Fund users through apps promising to help them with their applications to withdraw their money kept there.
To understand more about what phishing attacks are all about, check out our explanation here.
And if you are still worried about phishing attacks, especially for your remote working employees, check out this phishing awareness online academy here.