In line with bank’s commitment to spread financial awareness and enhance trust in the banking sector
KUWAIT: National Bank of Kuwait organized a specialized awareness session for employees of the Kuwait National Petroleum Company (KNPC) and the Kuwait Integrated Petroleum Industries Company (KIPIC), with the aim of raising awareness about the risks of fraud and digital threats that target the banking sector, in addition to introducing them to the basic concepts of cybersecurity and methods of protection from digital risks. This session reflects NBK’s longstanding relationship with the oil sector institutions and their fruitful partnerships which have always stood on mutual support.
Among the main topics explored in the session was the concept of fraud and its various methods and impact on individuals and institutions. Digital fraud is not limited to financial losses; it extends to affecting customer trust and creating challenges in the business environment. Therefore, recognizing these risks is a fundamental step in enhancing security awareness because it helps employees deal with them proactively and enhances their ability to protect sensitive data and prevent the exploitation of loopholes on which scammers rely to make their attacks.
Moreover, the session delved into the most prominent methods of fraud in the digital age, including phishing, which relies on fake messages that persuade victims to disclose their data, and identity theft, which aims to hack personal and banking accounts, in addition to fake advertisements that promote fictitious products or services. Another method is fake trading platforms that exploit individuals’ desire to invest and make quick profits. In this light, the NBK team provided real-life examples of these methods, explaining how to detect them and avoid falling victim to them.
Additionally, the NBK team noted that the bank has a specialized team working around the clock all week long to deal with emergencies quickly and efficiently. The bank also offers many programs and awareness campaigns for customers and employees through various digital channels to educate them about the latest methods of fraud and how to avoid them. NBK also coordinates with official entities and agencies such as the Public Authority for Civil Information, the Public Authority for Communications and Information Technology, the Ministry of Interior, and the Public Prosecution to ensure an effective and rapid response to any threats or fraud attempts, which enhances the national protection system and confidence in the banking sector.
During the session, the team also provided tips to help employees protect themselves, most notably avoiding sharing sensitive information via phone or email, using only official channels to access banking services, and contacting the bank immediately if exposed to any fraud attempt, in addition to following the bank’s official social media channels to stay informed about the latest fraud methods.
On this occasion, Abdulwahab Al-Duaij, AVP – Head of Enterprise Fraud Control, commented: “We believe that cybersecurity is no longer an option but a strategic necessity amid the rapid technological developments. This is why we are always keen to equip participants with the awareness and tools necessary to confront threats and build a secure digital environment that supports innovation and sustainable growth, because spreading a culture of awareness is the first line of defense against fraud”.
Al-Duaij added: “Developments in the field of Artificial Intelligence pose new challenges, as they allow attackers to utilize advanced methods, but at the same time they give us unprecedented capabilities in the field of protection and proactive analysis, and we are working to enable our partners to benefit from these technologies in a safe and effective manner”. Al-Duaij also noted that NBK will continue supporting the “Let’s Be Aware” banking awareness campaign, which aims to promote financial and security literacy among various segments of society. The bank is doing so by regularly organizing educational events and programs that highlight the risks of fraud and digital threats, in addition to providing employees and customers with guidance that helps them protect their data and maintain a safe banking environment.
Finally, Al-Duaij emphasized that the relationship between NBK and KNPC is a model strategic partnership that benefits the national economy and is constantly growing. This cooperation, which has spanned decades, is a fundamental pillar of the bank’s strategy that aims to support vital sectors in the country and provide an added value beyond traditional banking services. It should be noted that NBK has a record of regularly delivering sessions and presentations on financial crimes and fraud in the financial sector to numerous government institutions. These sessions stem from the bank’s responsibility to share its strong expertise in addressing constantly changing security challenges, making it a trusted knowledge partner in protecting the national infrastructure.
It is also worth noting that NBK is a supporter and key partner of all initiatives aimed at raising financial awareness and spreading banking education among all segments of society. As a leading financial institution in the region, NBK has consistently organized various events that contribute to raising community awareness of all issues of concern to the banking sector. It also organizes numerous training courses for its employees to enhance their expertise in combating fraud and financial crimes, in addition to raising awareness of the risks of cybercrime and fraud through its electronic channels and social media platforms.
