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Burgan Bank Urges its Customers to Adopt Safe Banking Practices and Stay Wary of Financial Fraud
Burgan Bank Urges its Customers to Adopt Safe Banking Practices and Stay Wary of Financial Fraud

In response to the notable rise in fraud attempts and the MOI’s success in thwarting many of them

Kuwait, 16 February 2024: In light of the alarming rise in financial fraud and scam attempts in Kuwait and the Ministry of Interior (MOI)’s success in processing 334 reports of fraud, which amounted to a total of KD 592,556 since the inception of the Virtual Fraud Room. Burgan Bank reiterated the urgency for all customers to follow precautionary measures and secure banking practices to avoid falling victim to the ever-evolving schemes of financial fraud.

It serves to note that Burgan Bank continues to offer its unwavering support to the MOI’s virtual fraud room (Aman) – which was recently set up and activated by the Kuwait Banking Association (KBA) under the guidance of the Central Bank of Kuwait (CBK), in cooperation with the MOI and the Public Prosecution and with the participation of specialized representatives from all domestic banks – to handle reports of electronic financial fraud around the clock.
In this regard, Mr. Faissal Al Roumi, Executive Manager - Operational Risk at Burgan Bank, said: “Protecting our customers from electronic financial fraud schemes is among our top priorities, which is why we continue to regularly upgrade our systems and fortify our products and services with the latest security standards. In parallel, we continue to spread fraud awareness messages on the different ways to deter any financial fraud attempts across the Bank’s various channels of communication as well as its nationwide branches.”

Al Roumi offered Burgan’s customers numerous secure banking tips to help them stay vigilant of any scams or fraud attempts, which includes refraining from clicking any suspicious hyperlinks that may be attached to an email or SMS. He noted that the Bank does not collect or update any customer information via email, SMS, or phone calls. Payment Gateways should also be checked prior to filling out card details to ensure it is secure by starting with “HTTPS”.  In addition, he urged the customers to avoid answering calls or responding to messages requesting personal or bank account information, noting that scammers collect these data and use them to rob customers of their hard-earned wealth or personal information. 

Other security measures that Al Roumi highlighted include safekeeping the bankcard PIN and not writing it on the card itself, as well as not sharing the one-time password (OTP) with anyone or saving important information – such as debit or credit card numbers, as well as secure key – on the mobile phone. Burgan Bank has also taken a step in mentioning the reason for each OTP sent within the message and clients should read the reason before submitting. He also stressed the importance of logging out of the Bank’s application or online platform as soon as the transaction or service is fulfilled. Other precautions include constantly updating anti-virus programs that are installed on all devices used for online banking, as well as regularly updating the devices’ operating systems, applications, and firewalls. In the case of suspecting any unauthorized transactions, Al Roumi urged all customers to immediately contact customer support and report the suspected breach.

It is worth noting that Burgan Bank spares no effort to support the banking awareness campaign, “Let’s Be Aware” (Diraya), by spreading the word about its importance and goals on a daily basis with customers visiting the branches. The Bank also utilizes its social media and digital channels to spread vital financial literacy and fraud awareness information, ensuring that fraud awareness becomes second nature to as many individuals as possible across society and guaranteeing higher levels of security for their bank accounts.


Posted by : Kuwait PR Network Editorial Team
Viewed 13316 times
PR Category : Banking & Investments
Posted on : Thursday, February 15, 2024  12:17:00 PM UAE local time (GMT+4)
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