2025
2025Verification of Payee service
Malta, October 2025: We are proud to announce that the Bank has successfully implemented the Verification of Payee service to meet regulatory requirements and strengthen payment security. This step reinforces our commitment to protect our customers and support industry efforts to reduce fraud.
The new process adds an extra layer of protection by checking that the account name provided by the ordering customer matches the details held by the beneficiary’s bank. This additional process helps to prevent misdirected payments and enhances customers confidence in payment systems.
We thank all the teams involved for their hard work in delivering this important initiative within the regulatory timelines.
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IIG Bank (Malta) Ltd
Level 20, Portomaso Business Tower, St. Julians STJ4011, MaltaQui-Si-Sana Seafront, Sliema SLM3113, Malta
t: +356 2248 4500
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