Central Chamber proves vital in combating electronic fraud: KBA
Real-time response and early warning system reduce cybercrime losses; public awareness remains first line of defense against fraud, say banking officials; fake websites, social media scams, and telegram trading groups among rising fraud tactics
The Kuwait Banking Association announced today that the Central Chamber for Combating Electronic Fraud has demonstrated remarkable efficiency in detecting and preventing fraudulent attempts.
Officials credited its advanced technical systems, real-time monitoring, and shared data analysis mechanisms for minimizing losses and protecting customers, reports Al-Rai daily.
The chamber has also implemented an early warning system, which has been crucial in limiting damage and allowing immediate responses to suspicious activity.
The KBA Deputy Secretary-General, Sheikha Al-Essa, explained that the chamber operates around the clock as a fully integrated coordination hub, working closely with Kuwaiti banks, the Federation of Banks, the Ministry of Interior, and the Public Prosecution.
She emphasized that this effort reflects the Central Bank of Kuwait’s ongoing directives to strengthen financial sector security and safeguard customers from cybercrime.
Al-Essa described the chamber as a milestone achievement for the Kuwaiti banking sector, highlighting its ability to quickly exchange information about fraud attempts.
This system, she said, allows specialized teams to take swift action, including freezing suspicious accounts and initiating legal procedures in coordination with relevant authorities.
She stressed that the prevention starts with awareness and coordination, noting the importance of public caution. Customers were reminded never to share private information such as usernames, passwords, or OTPs, and to carefully review notifications from the My Identity app to avoid falling victim to fraudulent authentication requests.
From his side, Hussein Al-Sarraf, head of the Anti-Fraud Committee at the Kuwait Banking Association, said the chamber plays a critical role as the first line of defense in monitoring evolving fraud techniques.
Al-Sarraf identified the most common schemes, including fake websites impersonating banks; fraudulent social media accounts posing as bank employees; online ads for real estate, chalets, and residential properties and suspicious investment and trading groups on Telegram.
He urged bank customers to remain vigilant, avoid sharing sensitive information, and follow the “Let’s Be Aware” campaign on social media for updates on fraud methods and prevention strategies.
The Kuwait Banking Association reaffirmed its commitment to ensuring a safer, more resilient financial environment, built on collaboration, technology, and public awareness.
Follow The Times Kuwait on X, Instagram and Facebook for the latest news updates
