Banks warn of spike in online fraud during festive season
The bank association warned on Monday that there is an increase in online fraud attempts during festive periods, which are accompanied by increased commercial activity, both in physical stores and online. In a statement, the association mentio
The bank association warned on Monday that there is an increase in online fraud attempts during festive periods, which are accompanied by increased commercial activity, both in physical stores and online.
In a statement, the association mentions that the most common scams are carried out through SMS messages, various communication and social media platforms, phone calls, and emails.
Regarding the tactics used by fraudsters, the bank association states that “the most common trick employed by scammers is to claim a technical problem, and through this excuse, they aim to obtain login credentials to access citizens’ accounts.”
As for how the public should react, the bank association advises that the main protective measure for all citizens is to remain suspicious, not to respond to such messages or calls, and not to follow links that may be sent via SMS or email.
The bank association urged the public to stay well-informed, calm, cautious, and alert when managing their accounts.
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