Banks are studying a proposal as part of providing more security for digital transactions. The introduction of a new procedure states that any amount transferred via “links” to the account of the beneficiary customer will be freezed, specifically if the bank from which the transfer is made informs the customer that their account is hacked, and it must be blocked until further notice.
Banks have recently noticed repeated complaints of account piracy via “link” messages, with values ranging from 200 to 2000 dinars, as these fraud messages usually contain imaginary prizes, especially through the “Apple Pay” service.
These amounts that are transferred through links from the clients account usually face mishap as the verification code gets seized resulting in the money being transferred in the hackers account that is outside Kuwait.
Meanwhile, banks are betting that it is possible to reduce the losses of these frauds by stopping the movement of money, specifically the last step, which includes the transfer of funds from the inside to the outside, so that the customer quickly discovers that he has been hacked, and to report the incident directly to the bank, giving a wider banking space to track the movement of funds and request the receiving bank to freeze the seized amounts until the veracity of the communication is verified.