NBK organizes training program for MoI officials

KUWAIT: National Bank of Kuwait (NBK) organized a training program for officers responsible for overseeing the Anti-Fraud and Money Crimes Unit in the Ministry of Interior. This initiative demonstrates NBK’s dedication to enhancing collaborative endeavors in the fight against electronic and financial fraud, in line with the “Let’s Be Aware” campaign.

The launch ceremony was attended by Mohammad Al-Kharafi, Chief Operating Officer – Head of Group Operations & Information Technology, and Emad Al-Ablani, GM – head of Group Human Resources, Khalid Al-Matrouk, Chief Security Officer and Head of Anti-Financial Crime-Kuwait at National Bank of Kuwait.

The training program covered essential topics such as the creation and maintenance of various types of accounts, the issuance and usage procedures for different types of payment cards, card withdrawals and their methods of utilization, and transfers and the procedures for their establishment. Furthermore, the course extensively covered recent trends in fraudulent practices.

The program also placed significant emphasis on the latest fraudulent methods that leverage digital scanning, including the duplication of files on the payment page of a retailer’s website or application. Moreover, additional fraudulent strategies, including contacting consumers via phone or social media while impersonating bank employees were also covered. The course also covered various deception techniques, including phishing attacks through the development of fraudulent websites with the intention of baiting victims. Furthermore, the training course delved into methods for hacking into accounts by acquiring usernames and passwords from bank applications, enabling unauthorized transfers of funds either abroad or to different accounts.

In addition to how fraudsters also encrypt bank card details on their mobile phones, utilizing the device as a payment method either in stores or through online platforms. NBK Operations Group explained the most recent fraud schemes that had proliferated recently. One method involves an intermediary account: the fraudster purchases an account from an individual who has departed the country. Upon acquiring funds, the fraudster channels this money into the purchased account, subsequently redirecting it to other accounts. Another method includes encrypting stolen cards, where the fraudster encrypts bank card details onto their mobile phone and employs the device as a payment service, either in physical stores or on online platforms.

On this occasion, Khalid Al-Matrouk, Chief Security Officer and Head of Anti-Financial Crime-Kuwait at National Bank of Kuwait said, “The training course stems from NBK’s social responsibility and its commitment to raising awareness on combating cybercrime. It aims to guide society and customers in harnessing the technological revolution for secure and effortless banking transactions.” Al-Matrouk stated, “We are committed to fostering financial literacy and promoting a financial culture within society. Our ongoing collaboration with the Ministry of Interior reflects our dedication to combating fraudulent activities that pose a threat to customers’ personal data and bank accounts.”

NBK plays a pivotal role as a significant advocate and collaborator in initiatives striving to elevate financial literacy and promote banking understanding across diverse segments of society. As a leading financial institution in Kuwait and across the region, NBK frequently organizes various activities that contribute to raising awareness about all topics related to the banking sector. It also organizes various activities and training courses on combating fraud and financial crimes. Additionally, it actively employs its electronic channels and social media platforms to raise awareness about the dangers of cybercrime and fraudulent activities.

Provided by SyndiGate Media Inc. (Syndigate.info).