Visa, in partnership with the Kuwait Banking Association, has recently unveiled the latest edition of the “Stay Safe” study, shedding light on the vulnerability of consumers to fraudulent activities due to their excessive confidence. This annual study is an integral part of Visa’s ongoing “Stay Safe” campaign, which aims to raise awareness, educate consumers, and enhance their confidence in combating social engineering threats while ensuring secure and seamless digital payment experiences. The findings were reported by Al-Jarida Daily.
Neil Fernandez, the Director of Risk Management at Visa Middle East and North Africa, emphasized the ever-evolving techniques employed by fraudsters in deceiving consumers in the digital age. These tactics range from fraudsters posing as customs officers holding packages to claiming expired subscriptions to streaming services or offering free shopping vouchers from popular brands.
With the rapid growth of digital payments, it is crucial for Kuwaiti consumers to familiarize themselves with the language of fraud and exercise greater caution than ever before. Visa expressed gratitude to the Kuwait Banking Association for their support and contribution, enabling the successful delivery of the “Stay Safe” campaign to local consumers. In collaboration with the Central Bank of Kuwait, the association has already launched the “Let’s Be Aware” campaign, which aims to educate customers about the importance of caution and refraining from engaging in suspicious transactions or responding to potential fraudulent claims.
Recognizing the importance of fortifying their systems and investing in cutting-edge cybersecurity technologies, Kuwaiti banks have made a commitment to combat fraudulent activities. Dr. Hamad Al-Hassawi, Secretary General of the Kuwait Banking Association, highlighted the continuous efforts made by Kuwaiti banks in this regard. He commended Visa for their dedication to raising awareness and educating customers, expressing his satisfaction with the sustained partnership and cooperation between the association and Visa over the past six years since the launch of the “Stay Safe” campaign in Kuwait.
The “Stay Safe” study serves as a wake-up call for consumers to be vigilant and proactive in protecting themselves from fraud. By understanding the evolving tactics employed by fraudsters, individuals can better recognize and avoid potential scams. It is essential for consumers to remain informed about the latest fraud schemes and to exercise caution when sharing personal information or engaging in online transactions.
Visa’s collaboration with the Kuwait Banking Association demonstrates their shared commitment to empowering consumers with the knowledge and tools necessary to combat fraud. Through initiatives like the “Stay Safe” campaign and the “Let’s Be Aware” campaign, both organizations are working together to educate customers and promote a safer digital payment environment.
As technology continues to advance, it is crucial for consumers to stay informed and adapt to the changing landscape of fraud. By staying vigilant, exercising caution, and utilizing the security measures provided by financial institutions, individuals can protect themselves against fraudulent activities and enjoy secure digital payment experiences.
In conclusion, the “Stay Safe” study serves as a valuable resource for Kuwaiti consumers, shedding light on the risks posed by fraudsters and providing insights to help individuals protect themselves. Visa’s partnership with the Kuwait Banking Association underscores their shared commitment to combatting fraud and ensuring the safety of digital payment transactions. By remaining vigilant and informed, consumers can stay one step ahead of fraudsters and enjoy secure and seamless digital payment experiences.
Source: TimesKuwait
