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ABK Calls Attention to Safe and Secure Banking

31 May 2022

ABK Announces Khadijah Abdullah Al Beloushi as Winner of Weekly Draw Prize of KD 10,000

Al Ahli Bank of Kuwait continues its support for the nationwide awareness campaign - “Let’s Be Aware”, launched by the Central Bank of Kuwait (CBK) and Kuwait Banking Association (KBA). The campaign aims to raise awareness about customers’ rights and duties when dealing with banking products and services.

The “Let’s Be Aware” is geared towards educating consumers about the best use of banking products and services. Enhancing customers’ knowledge of the precautions they must take to preserve their funds is a key priority. The campaign also helps users avoid any misuse of banking products and services, breaching their responsibilities, and utilising banking facilities to manage their savings. ‘Diraya’ also provides tips on cyber safety and security, familiarising people with special needs with their rights and services, in addition to clari-fying the process for raising complaints about banking services and products.

The campaign spotlights banks and their role in providing banking services and highlights clear and specific policies related to the borrowing process; types of bank cards and tips for using them; products and services related to investing and saving; and personal finance. The campaign also aims to increase financial inclusion awareness to stimulate monetary and economic stability.

The rise in e-commerce services coupled with the rise of applications on smartphones has the adoption of contactless and digital payments. Recent studies have shown a continued increase in the adoption of e-wallets and mobile banking in 2021 in the Middle East. Unfortunately, with this rise in contactless and digital payments, Kaspersky Digital Payments Survey experts have noted that financial Trojan attacks in Kuwait in-creased by 65% in 2021 compared to the previous year. Customers are prone to cyber-attacks, including identity theft, phishing, vishing, skimming, and a host of malpractices at ATMs.

A component of the ‘Let’s Be Aware’ campaign is educating customers on safeguarding their details and protecting themselves from identity fraud. For instance, banks never request personal information, including online credentials and passwords, PINs or the three-digit CVV number. Consumers must remain alert about fraudulent emails, links, websites or calls to defend themselves against potential fraud.

As ABK is committed to raising awareness about the importance of safe and secure banking and is encourag-ing customers to refresh their knowledge of online best practices to protect their personal information against highly deceptive tactics fraudsters employ, ABK recommends the following:

• Do not store any confidential information such as debit card numbers, credit card numbers, or per-sonal identification numbers on a mobile phone.
• Do not write your password on the card or share it with anyone. This also applies to the One Time Password (OTP).
• Log out of the application or the bank’s website once the transaction is completed.

“Digitalisation provides incomparable convenience and access to banking services for customers. However, these conveniences bring risks of cyber fraud. Cybercriminals are constantly looking for vulnerable custom-ers. It is vital for customers to be vigilant and mindful of their online habits. Customers must safeguard their wealth and savings by following and adhering to certain rules. For instance, avoid answering unknown calls; handle electronic links with caution when received unknown recipients; don’t share confidential information such as OTPs, card numbers, passwords or PINS,” said Mr. Loai Muqames, CEO of ABK – Kuwait.

“At ABK, we continuously invest in enhancing our technology, process and systems to mitigate advanced cyber security threats. Raising awareness is a vital step in this journey, and we are proud to participate in the country-wide ‘Let’s be Aware’ campaign, educating customers on best practices when conducting digital transactions. We urge all customers to be vigilant when conducting banking transactions online”, added Mr. Muqames.

For more information, please follow the campaign’s Instagram and Twitter accounts at @dirayakw and visit the campaign’s official website at www.dirayakw.com.