11 September 2008
National Bank of Abu Dhabi (NBAD) has announced TODAY that it will fully refund any customer who has been affected by fraudsters who have used counterfeit cards to withdraw cash from customer accounts over the last three days as part of fraudulent attacks which targeted a number of banks in the UAE and elsewhere.
"National Bank of Abu Dhabi utilizes sophisticated fraud monitoring techniques and was able to quickly detect the attacks and take urgent action to limit the problem". This includes the use of SMS alerts where customers are notified of any activities on their accounts, which has also assisted us in containing the problem" said Mr. Saif Al Shehhi, senior general manager of NBAD's domestic banking division.
"As part of this process we had to block certain transactions from overseas locations which may have caused some temporary inconvenience to customers traveling. This was unavoidable and we apologise to any customers inconvenienced in this way. Alternatives were also set up to allow them to access cash without penalty" he explained.
"It must be stressed that no customer will be out of pocket as a result of this incident and NBAD will fully refund any customers accounts affected by this attack" Al Shehhi confirmed.
"We also took action to notify our customers to change the PIN numbers on their VISA Electron cards as a further security precaution. It should also be noted that only VISA Electron debit cards have been involved while credit cards were not". "We are currently investigating the source of the problem and will advise further as we know. We also urge customers to change their PIN codes at our ATM's as a further precaution" he added.
"Once again, we apologise to our valued customers for any inconvenience but can assure them that we have excellent procedures in place to mitigate any further such incidents" senior general manager of NBAD's domestic banking division concluded.
- Ends -
About NBAD
The National Bank of Abu Dhabi (NBAD), The Number One Bank in the UAE, was incorporated in 1968. NBAD has a network of 80 branches in the UAE in addition to Cash offices that are spread out at remote locations to provide banking services to customers stationed at offshore oil operations and in desert locations as well as other government organizations. NBAD also has three Shift offices inside the security areas of the Abu Dhabi International Airport providing currency & traveler's cheques exchange services.
The branch network is widened further with 223 ATMs through which customers perform a variety of transactions.
Besides brick & mortar branches, NBAD provides 24 hour internet banking accessibility through NbadOnline and NbadDirect, as well as account access and personalized customer support through the 24-hour Call Centre.
NBAD's overseas network stretches from Oman, Kuwait, and Bahrain in the G.C.C., Egypt and Sudan in Africa, London, Paris, and Geneva in Europe to Washington D.C. in the U.S.A.
The bank provides its customer with a wide variety of financial services targeted at all segments of the retail and corporate market in addition to Fund Management, Brokerage, Leasing, Property Management businesses and Private Banking.
NBAD is rated senior long term/short term A+/A-1 by Standard and Poor's, Aa3/P1 by Moodys and AA-/F1+ by Fitch giving one of the strongest combined rating of any Middle Eastern financial institution.
NBAD is an award winning leader in the UAE and GCC financial services industry. Awards won by the bank include the Middle East Excellence Award 2008, the Mohamed Bin Rashid Al Maktoum Business Award 2007, the Sheikh Khalifa Excellence Award, Dubai Quality Award, 'Best Bank in UAE' from Euromoney and Banker publications, 'Human Resources Development Award' from the Emirates Institute for Banking & Financial Studies, the 'Middle East e-Banking Country Award', the 'Outstanding use of IT in Financial Services Award, and excellence award for 'Best use of Technology' from Banker Middle East.
- Ends -
For more information, please contact:
Ehab Khairi
Media & PR Manager
National Bank of Abu Dhabi
Tel: +97126111190
Mob: + 971508126799
Email: ehab.hassan@nbad.com
Web: www.nbad.com
National Bank of Abu Dhabi (NBAD) has announced TODAY that it will fully refund any customer who has been affected by fraudsters who have used counterfeit cards to withdraw cash from customer accounts over the last three days as part of fraudulent attacks which targeted a number of banks in the UAE and elsewhere.
"National Bank of Abu Dhabi utilizes sophisticated fraud monitoring techniques and was able to quickly detect the attacks and take urgent action to limit the problem". This includes the use of SMS alerts where customers are notified of any activities on their accounts, which has also assisted us in containing the problem" said Mr. Saif Al Shehhi, senior general manager of NBAD's domestic banking division.
"As part of this process we had to block certain transactions from overseas locations which may have caused some temporary inconvenience to customers traveling. This was unavoidable and we apologise to any customers inconvenienced in this way. Alternatives were also set up to allow them to access cash without penalty" he explained.
"It must be stressed that no customer will be out of pocket as a result of this incident and NBAD will fully refund any customers accounts affected by this attack" Al Shehhi confirmed.
"We also took action to notify our customers to change the PIN numbers on their VISA Electron cards as a further security precaution. It should also be noted that only VISA Electron debit cards have been involved while credit cards were not". "We are currently investigating the source of the problem and will advise further as we know. We also urge customers to change their PIN codes at our ATM's as a further precaution" he added.
"Once again, we apologise to our valued customers for any inconvenience but can assure them that we have excellent procedures in place to mitigate any further such incidents" senior general manager of NBAD's domestic banking division concluded.
- Ends -
About NBAD
The National Bank of Abu Dhabi (NBAD), The Number One Bank in the UAE, was incorporated in 1968. NBAD has a network of 80 branches in the UAE in addition to Cash offices that are spread out at remote locations to provide banking services to customers stationed at offshore oil operations and in desert locations as well as other government organizations. NBAD also has three Shift offices inside the security areas of the Abu Dhabi International Airport providing currency & traveler's cheques exchange services.
The branch network is widened further with 223 ATMs through which customers perform a variety of transactions.
Besides brick & mortar branches, NBAD provides 24 hour internet banking accessibility through NbadOnline and NbadDirect, as well as account access and personalized customer support through the 24-hour Call Centre.
NBAD's overseas network stretches from Oman, Kuwait, and Bahrain in the G.C.C., Egypt and Sudan in Africa, London, Paris, and Geneva in Europe to Washington D.C. in the U.S.A.
The bank provides its customer with a wide variety of financial services targeted at all segments of the retail and corporate market in addition to Fund Management, Brokerage, Leasing, Property Management businesses and Private Banking.
NBAD is rated senior long term/short term A+/A-1 by Standard and Poor's, Aa3/P1 by Moodys and AA-/F1+ by Fitch giving one of the strongest combined rating of any Middle Eastern financial institution.
NBAD is an award winning leader in the UAE and GCC financial services industry. Awards won by the bank include the Middle East Excellence Award 2008, the Mohamed Bin Rashid Al Maktoum Business Award 2007, the Sheikh Khalifa Excellence Award, Dubai Quality Award, 'Best Bank in UAE' from Euromoney and Banker publications, 'Human Resources Development Award' from the Emirates Institute for Banking & Financial Studies, the 'Middle East e-Banking Country Award', the 'Outstanding use of IT in Financial Services Award, and excellence award for 'Best use of Technology' from Banker Middle East.
- Ends -
For more information, please contact:
Ehab Khairi
Media & PR Manager
National Bank of Abu Dhabi
Tel: +97126111190
Mob: + 971508126799
Email: ehab.hassan@nbad.com
Web: www.nbad.com
© Press Release 2008
