Awareness of cybersecurity to increase financial literacy of society and protect customer rights
CBK practices and controls contribute to reducing fraud against customers
Kuwait: Acting Group CEO of Kuwait Finance House (KFH), Abdulwahab Al-Roshood said that KFH is keen on supporting the “Be aware” campaign launched by Central Bank of Kuwait (CBK) and Kuwait Banking Association (KBA). The campaign aims to raise public awareness of the role of the banking sector and to enhance the financial literacy of society.
He added that KFH is keen on protecting, enhancing, and raising public awareness of customer rights by using best practices and highlighting the importance of the various banking services provided by the bank through supporting such campaigns, publishing videos and awareness campaign messages through KFH`s accounts on social networks platforms, as well as clarifying the mechanisms for submitting complaints and protecting customer rights.
Given the development of e-banking transactions and digital activity and higher online penetration, Al-Roshood stressed the importance of cybersecurity and continuous customer awareness of potential risk of e-crimes through different means and learning about the main steps that should be taken to avoid fraud and increase society`s financial awareness.
He explained that the major objective of fraud and e-crimes is money, stressing the importance of avoiding sharing personal or banking information as banks never ask for customers’ banking information via phone calls, emails, messages, or other means.
He indicated that KFH keeps raising public awareness of cybersecurity and protection of bank accounts, so that customers are sufficiently aware of financial and banking transactions, and thus remain safe from e-crimes.
Al-Roshood praised the Central Bank of Kuwait's procedures and the strengthening of controls and regulatory frameworks for banking services that contribute to reducing fraud in society and raise awareness of the high-risk investments, sharing card payment data, and other e-crimes, pointing out that KFH strongly supports these measures to protect customers.
He concluded that “Be aware” campaign is part of sustainable development and social responsibility for Kuwaiti banks along with promoting financial inclusion and economic stability. Al-Roshood confirmed KFH`s support to the efforts of CBK and KBA in this campaign, expressing his hope that it will optimally achieve the required objectives and create safe environment away from e-crimes.
The one-year "Be aware" campaign covers diverse topics, including the role of banks as financial intermediaries, the importance of investment and saving, how best to benefit from banks’ services, educate customers about their rights, provide services for special needs customers, the mechanism of submitting complaints about banking services, different banking cards as well as major steps to avoid frauds and other topics.
© Press Release 2021
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