KUWAIT CITY, Oct 1: Dr. Safaa Zaman, head of the Kuwait Association for Information Security (KAIS), confirmed that consumers’ suspicions have been aroused by the proliferation of advertisements for a variety of products; particularly food products, with enticing discounts and payment through bank links.
It was discovered that the source of these advertisements is financial fraud bait, in which a large number of people have fallen victim. In a statement to the newspaper, Zaman clarified that bank links have demonstrated their ineffectiveness in minimizing fraudulent transactions; because they are utilized extensively and have caused significant losses for the general public. Some banks have been unable to prevent fraud, she added. She pointed out that the most significant source of fraud is people disclosing their financial information to unidentified parties and clicking erroneous bank links that direct them to a different website trying to obtain personal financial information. She went on to say that this information is used to withdraw the bank card balance; because con artists use people’s psychological needs, such as the need to win a financial or in-kind prize, get a job or financing, or receive discounts and alluring offers, to trap victims in their fraudulent schemes.

She suggested that to minimize fraudulent operations, both the State and the individual must take action. She added that “for the individual, this means scrutinizing the product or offer before completing a financial transaction; as well as being aware and keeping up to date with financial fraud techniques and the warnings issued by the concerned government agencies. Take some time to consider your options before completing any financial transaction or providing personal or financial information to anyone through a phone call, text message, website, or electronic link that purports to be from a government or commercial entity. “Last but not least, the person has to promptly report any suspicion of financial fraud to the appropriate security authorities, as well as the financial entity with whom he is dealing.

This includes confirming the legitimacy and identity of any party that requests personal or financial data informally through text messages, email links, or social media; as these requests are usually fraudulent. Aside from avoiding entering your personal or banking information on a website, you do not know, and if you need to enter sensitive information, you must check the reliability and security of the site by using the address bar in the browser. Do not share any confidential information via phone, text messages or emails with any person or entity under any circumstances.” She said that on the part of the State, it must conduct a comprehensive study on fraud and scams to identify the defect and address it by using modern technical tools. The State should also set regulations and laws that control financial transactions, keep amending and developing legislation, and continuously educate society about the means of fraud and how to curtail them, she concluded.