Latest news with #cyberfraud
Zawya
7 days ago
- Business
- Zawya
KIB continues its efforts to boost banking security during Eid Al-Adha
Kuwait: As part of its ongoing commitment to the 'Let's Be Aware' (Diraya) campaign, Kuwait International Bank (KIB) is continuing, for the fifth consecutive year, its efforts to enhance banking security for its customers. The Bank is sharing a series of precautionary tips and guidelines across various communication channels to raise public awareness about financial security and fraud prevention—especially during the Eid Al-Adha holiday period. Commenting on KIB's efforts to support the campaign, which was launched by the Central Bank of Kuwait (CBK) and the Kuwait Banking Association (KBA) in cooperation with local banks, Basil Al-Suwaidan, General Manager of the Information Security, Privacy and Anti-Fraud Department at KIB, said: 'The holiday period typically brings a surge in shopping, travel, and online activity, which is often accompanied by a sharp rise in fraud targeting bank cards and electronic transactions. That's why KIB is intensifying its efforts to raise customer awareness about the risks of cyber fraud and how to use bank cards safely, in order to safeguard their assets and personal data from theft, breaches, and other threats.' To safeguard banking transactions, Al-Suwaidan recommended that customers download the 'KIB Mobile' app and enable instant notifications or SMS alerts to stay updated on any activity related to their accounts and immediately report suspicious transactions. He also highlighted the importance of securely storing banking information, such as card numbers and OTPs, and never sharing them with anyone. In addition, he advised against the use of public Wi-Fi networks when accessing online banking services. He also emphasized that KIB never requests personal or confidential information from customers via email, text message, WhatsApp, or phone call. If such a request is received, he advised, it should be ignored and reported immediately. Al-Suwaidan explained that during holiday periods, common fraud tactics tend to surge, such as sending suspicious links via email or SMS that lead users to fake websites designed to steal personal and financial information. He also noted an increase in false advertisements and misleading offers related to chalet rentals. He emphasized the importance of carefully inspecting links received through unsolicited messages, verifying the sender's identity and website URLs, using secure payment methods, and avoiding the sharing of sensitive information over unsecured networks. KIB recognizes the importance of providing its customers with the knowledge and tools needed to protect themselves from fraudulent activities. As part of the 'Let's Be Aware' campaign, the Bank encourages customers to stay cautious and vigilant when conducting online transactions. KIB is also committed to equipping individuals with the awareness and skills necessary to navigate the digital world safely and confidently. Al-Suwaidan encouraged all customers to explore the resources offered through the 'Let's Be Aware' campaign, available on the Central Bank of Kuwait's website and across the communication channels of Kuwaiti banks. By staying informed and adopting safe online practices, individuals can effectively protect themselves from financial fraud and enjoy their holidays with confidence. It's worth noting that customers can reach KIB representatives 24/7 through multiple channels. These include the phone service available via the Customer Service Center at 1866866, the international number at +96522957300, and KIB's digital banking platforms—such as the 'Live Chat' and 'KIB Online' services on the website Customers can also connect through the video call feature on the 'KIB Mobile' app for smartphones or via WhatsApp on KIB's registered local number (1866866). All of these channels are designated for general inquiries related to the Bank's products and services throughout the year. About KIB Kuwait International Bank (KIB) is a bank that operates according to the Islamic Shari'ah, based in the State of Kuwait. Incorporated in 1973, and originally known as Kuwait Real Estate Bank, KIB made the transition to its current Islamic operating model in 2007. In 2018, KIB embarked on a new phase of its journey full of innovation and development. As part of its new strategic direction, the Bank focuses on offering a next-level customer experience under the slogan: 'Bank for Life'. Through a network of branches spread across the State of Kuwait, KIB offers a broad range of banking products and services, as well as innovative digital banking solutions in line with international best standards. As part of its duty towards the community, the Bank also encompasses a leading social responsibility program that aims at positively impacting all members of the community through a wide range of impactful initiatives and activities. Today, KIB has taken concrete steps in implementing its new strategic objectives. The Bank has cemented its role as a key player in the local banking industry and has continued to maintain its strong financial performance; enabling it to be globally recognized for its strong credit rating and financial position.
Al Bawaba
7 days ago
- Business
- Al Bawaba
KIB continues its efforts to boost banking security during Eid Al-Adha
As part of its ongoing commitment to the 'Let's Be Aware' (Diraya) campaign, Kuwait International Bank (KIB) is continuing, for the fifth consecutive year, its efforts to enhance banking security for its customers. The Bank is sharing a series of precautionary tips and guidelines across various communication channels to raise public awareness about financial security and fraud prevention—especially during the Eid Al-Adha holiday on KIB's efforts to support the campaign, which was launched by the Central Bank of Kuwait (CBK) and the Kuwait Banking Association (KBA) in cooperation with local banks, Basil Al-Suwaidan, General Manager of the Information Security, Privacy and Anti-Fraud Department at KIB, said: 'The holiday period typically brings a surge in shopping, travel, and online activity, which is often accompanied by a sharp rise in fraud targeting bank cards and electronic transactions. That's why KIB is intensifying its efforts to raise customer awareness about the risks of cyber fraud and how to use bank cards safely, in order to safeguard their assets and personal data from theft, breaches, and other threats.'To safeguard banking transactions, Al-Suwaidan recommended that customers download the 'KIB Mobile' app and enable instant notifications or SMS alerts to stay updated on any activity related to their accounts and immediately report suspicious transactions. He also highlighted the importance of securely storing banking information, such as card numbers and OTPs, and never sharing them with anyone. In addition, he advised against the use of public Wi-Fi networks when accessing online banking also emphasized that KIB never requests personal or confidential information from customers via email, text message, WhatsApp, or phone call. If such a request is received, he advised, it should be ignored and reported explained that during holiday periods, common fraud tactics tend to surge, such as sending suspicious links via email or SMS that lead users to fake websites designed to steal personal and financial information. He also noted an increase in false advertisements and misleading offers related to chalet rentals. He emphasized the importance of carefully inspecting links received through unsolicited messages, verifying the sender's identity and website URLs, using secure payment methods, and avoiding the sharing of sensitive information over unsecured recognizes the importance of providing its customers with the knowledge and tools needed to protect themselves from fraudulent activities. As part of the 'Let's Be Aware' campaign, the Bank encourages customers to stay cautious and vigilant when conducting online transactions. KIB is also committed to equipping individuals with the awareness and skills necessary to navigate the digital world safely and encouraged all customers to explore the resources offered through the 'Let's Be Aware' campaign, available on the Central Bank of Kuwait's website and across the communication channels of Kuwaiti banks. By staying informed and adopting safe online practices, individuals can effectively protect themselves from financial fraud and enjoy their holidays with confidence. It's worth noting that customers can reach KIB representatives 24/7 through multiple channels. These include the phone service available via the Customer Service Center at 1866866, the international number at +96522957300, and KIB's digital banking platforms—such as the 'Live Chat' and 'KIB Online' services on the website Customers can also connect through the video call feature on the 'KIB Mobile' app for smartphones or via WhatsApp on KIB's registered local number (1866866). All of these channels are designated for general inquiries related to the Bank's products and services throughout the year.
Khaleej Times
26-05-2025
- Business
- Khaleej Times
GIG Gulf launches the UAE's first home insurance with built-in cyber protection
GIG Gulf, a leading insurance provider in the Mena region, is raising the bar for personal protection with the launch of the UAE's first home insurance product that includes cyber-fraud cover as standard. This market-first offering extends protection beyond physical assets, helping safeguard families from the growing threat of online fraud and digital attacks. From phishing scams and identity theft to online shopping fraud and ransomware, the new Cyber Comfort cover provides policyholders with a multi-layered defense against a range of cyber threats. Every family member of the household is included under the policy, and GIG Gulf provides direct access to a dedicated cyber resolution team available 24/7 to guide victims through recovery in case of a digital breach. This enhancement comes at a time when cybercrime is escalating globally, and the UAE is taking proactive measures to protect residents and businesses. As the digital economy grows, so do the risks. GIG Gulf's cyber cover ensures policyholders are protected at home and online – reinforcing the company's commitment to customer-centric innovation. Commenting on the launch, Franck Heimburger, chief personal lines officer at GIG Gulf, said: 'Today, our homes are more connected than ever, and with that connectivity comes new risks. By embedding cyber protection into our home insurance, we're taking a bold step to meet the evolving needs of our customers. It's not just about insuring what's inside your home anymore – it's about securing the digital lives of the people who live in it.' The cyber cover is available on all new and renewing home insurance policies issued in the UAE from March 2025 onwards. GIG Gulf plans to roll out similar coverage across other regional markets and product lines, continuing to set the pace for innovation in the insurance industry. GIG Gulf continues to redefine what customers can expect from insurance – combining smart technology, practical protection, and human support to deliver peace of mind in an increasingly digital world. Explore GIG Gulf's enhanced home insurance today and take the first step toward protecting your digital world.
Times of Oman
26-05-2025
- Business
- Times of Oman
Oman sees sharp rise in cyber fraud
Muscat: Fraud crimes in the Sultanate of Oman has surged by a staggering 35 percent during the first quarter of 2025 compared to the same period last year, announced the Director General of Inquiries and Criminal Investigations. Cyber fraud, in particular, presents a significant security challenge due to the rapid growth of digital platforms and e-commerce. This expansion creates opportunities for fraudsters to exploit technical vulnerabilities and a lack of security awareness among users. The rising statistics for these crimes underscore the urgent need for collaborative security and community efforts to enhance digital prevention and combat these illicit practices. Brigadier Jamal bin Habib Al Quraishi, Director General of Inquiries and Criminal Investigations, detailed common fraudulent methods: Deceptive Websites: Fraudsters design fake websites resembling official ones, which are then promoted to appear high in search engine results, lending them false credibility. Victims are lured into revealing banking information after completing bogus forms and paying fees. Once a One-Time Password (OTP) is entered, funds are immediately withdrawn and transferred through a network of fake accounts and digital currency platforms, quickly obscuring the crime's trail and moving money abroad. Job-Based Scams: Fraudsters, often operating internationally, advertise fake job offers such as "financial advisor" or "financial agent." They then instruct targets to open bank accounts to receive and transfer money to other accounts, or to withdraw cash and transfer it via exchange services or digital currencies. Unwittingly, targets become involved in fraud and money laundering, facing legal accountability for handling funds from illicit sources. Fraudulent Phone Calls: Impersonating official institutions, banks, or companies, fraudsters use phone calls to offer victims attractive rewards or services in exchange for sensitive data or verification codes. They may even possess accurate bank balances and personal data to build trust. Brigadier Al Quraishi stressed that official authorities never request such information over the phone, urging the public to ignore and immediately report such calls. The General Department of Criminal Investigation and Research has successfully apprehended perpetrators in several such cases and taken legal action. Fake Package Delivery Messages: A similar tactic involves text or WhatsApp messages informing victims of a package delivery. These messages prompt victims to click a fake link to complete procedures and pay a delivery fee, allowing fraudsters to access their data and steal their money. E-Shopping Fraud: Brigadier Al Quraishi noted a significant increase in e-shopping fraud reports, largely due to the high demand for online shopping, especially during holidays and promotional periods. Fake Instagram accounts are also used to promote domestic worker recruitment, where victims pay fees via fake links, leading to bank detail hijacking and theft. Digital Currency Platform Exploitation: Digital currency trading platforms have become a prime target for fraudsters, leveraging users' inexperience. Victims are initially convinced to make small profits, then encouraged to deposit larger amounts, only for their funds to be withdrawn from their digital wallets, making retrieval impossible. Some platforms also receive funds from unknown sources linked to previous cybercrimes, which are then used to purchase and transfer digital currencies to other accounts. Digital Exploitation of Children: Brigadier General Jamal Al Quraishi warned of rising digital exploitation of children through video games, particularly those with direct communication features. Fraudsters entice children to disclose personal family information or encourage in-app purchases. Cases of cyber extortion have also been observed, where perpetrators demand private photos from children, later using them for illicit gains. Families are urged to monitor children's online activity, educate them on how to react to fraud and extortion attempts, and report incidents. Brigadier Jamal Al-Quraishi confirmed that the Royal Oman Police (ROP) continues to collaborate with international and regional security organizations to track, monitor, and apprehend perpetrators of these crimes. The ROP, in coordination with international agencies, successfully arrested an international organized crime network upon its entry into Oman. This network was involved in cyber fraud operations across several countries, luring Asian nationals to work in the Sultanate, confiscating their documents upon arrival, and training them to carry out online fraud, including creating fake social media accounts and romantic chat applications, and impersonating wealthy individuals to gain trust for investment in fake digital currency platforms. Brigadier Jamal bin Habib Al Quraishi emphasised the critical importance of enhancing public security awareness to help individuals recognize danger and avoid falling victim to online fraud. This includes: • Avoiding suspicious links. • Never sharing personal or banking information without verifying the sender's credibility. • Activating two-step verification. • Using strong, unique passwords for online accounts. • Allocating a separate bank card with a limited balance specifically for online shopping. He reiterated that official institutions do not request personal information over the phone, advising the public to ignore and not interact with such attempts. Anyone who experiences fraud should immediately report it to their bank to block affected accounts, file an official report at the nearest police station, or contact the hotline (80077444). All correspondence and conversations with the fraudster should be retained as documentary evidence.
Russia Today
23-05-2025
- Politics
- Russia Today
Russia to launch nationwide anti-fraud app
Russia will start developing a mobile application with artificial intelligence tools aimed at protecting citizens from cyber fraud, Deputy Digital Minister Aleksandr Shoytov has said. Speaking at the Positive Hack Days cybersecurity forum in Moscow on Friday, Shoytov stated that work on the app would begin in June as part of a broader national anti-fraud platform. The pilot will run through the end of the year, with full certification and nationwide rollout scheduled for early 2026. The app will include features such as real-time alerts about suspected fraud attempts and a 'panic button' that users could press if they believe they are being targeted. 'Citizens will be able to report any type of fraud directly through the app,' Shoytov said, adding that it will be integrated with banking and other digital services. The system will form part of a government information platform under a law enacted in March, and will involve cooperation between the central bank, Interior Ministry, commercial banks, and the Digital Development Ministry. More than 765,000 cybercrimes have been registered in Russia so far in 2025, with fraud accounting for roughly half, according to Interior Minister Vladimir Kolokoltsev. He said on Friday that cybercrime has grown sharply in recent years – from just one-seventh of all recorded offenses five years ago to 40% today. Authorities say most scam operations originate from Ukraine, where call centers allegedly tied to foreign intelligence services are active. The operations are designed to extract money from Russian citizens through phone and online fraud. Statistics show that one in four fraud victims is a pensioner. Russian President Vladimir Putin has previously described phone scams as a key tactic employed by Kiev against Moscow, suggesting it had become a state policy.
