EastWest is strengthening account protection with Banking Made Safer, a suite of security and fraud prevention measures designed to give customers greater control over their funds while keeping digital banking accessible.
A key feature of the initiative is EasyLock, available through the EasyWay and EasyBiz apps. It allows customers to secure a selected portion of their account balance, preventing the protected funds from being used for digital transactions while leaving the remaining balance available for everyday banking.
Customers can adjust or unlock the protected amount at any time, providing an additional layer of protection for savings that are not needed for regular transactions.
New safeguards against fraud
EastWest has also introduced additional security measures, including Emergency Shield, which can immediately suspend digital account access and outgoing transactions when customers suspect their account has been compromised.
Transaction Pause Period temporarily restricts digital transactions after key account information is changed, while Temporary Holding of Funds allows funds associated with disputed transactions to be temporarily held while verification is conducted.
“Through Banking Made Safer, we are giving customers practical tools such as EasyLock that help them take a more active role in protecting their funds,” said EastWest CEO Jerry Ngo.
The measures support EastWest’s implementation of Republic Act No. 12010, or the Anti-Financial Account Scamming Act (AFASA), along with applicable Bangko Sentral ng Pilipinas regulations.
EastWest encourages customers to use EasyLock for funds they do not need for regular digital transactions. The feature is available through EasyWay for individual accounts and EasyBiz for corporate accounts, subject to applicable company approval workflows.
