Do not click that link if you are not sure
United arab bank has a sophisticated security alert system in place to protect its customers and their assets. Ayman Al Qudsi, chief information officer, explains the system
In the last three months, there has been a 25 to 26 per cent rise in malicious activities online in the UAE to defraud customers of their money. Now this is not something that is unique to the emirates, but is largely the trend the world over as more and more of us are hunkering down at homes to avoid the Covid-19 infection.
Our online world has become a bridge to the real world as work from home, distance learning and online shopping become the new norm.
Swindlers are taking advantage of this global health crisis and targeting people through phishing, scam e-mails, calls, text messages, etc. offering gifts and prizes, hoping our greed or casualness will get the better of us and give them access to money and data.
The key to protection is customer awareness and robust security alert system by the bank, says Ayman Al Qudsi, Chief Information Officer, United Arab Bank (UAB).
“UAB was one of the early adapters of technology to utilise tools for preventing phishing of websites and mobile applications. We monitor our brand and website 24/7 to ensure no scammers are running fake UAB website, or phishing with fraudulent links similar to our online and mobile applications.”
Banking is evolving with the use of new-age technology. Digitalisation is becoming the norm. Yet, adapting to new technologies such as automation, applying artificial intelligence (AI), supporting Open API platform, running virtually, and being in the cloud all are initiatives and technologies that present their own challenges. In the midst of this, consumer data has become the new oil, which is highly sought by fraudsters.
Banks can protect customers, and the UAB has been continually making its customers aware, not only through social media, but also via constant communication with customers through various channels of the ways in which they can be cheated online. “Awareness is the key. We can win this battle against fraudsters if people can see through online deceit and protect themselves. So, we at UAB are constantly reminding our customers of the importance of keeping your personal information safe. No bank representative will ever ask for your pin, password and other such sensitive information,” adds Al Qudsi.
UAE Banks Federation (UBF), Central Bank of the UAE (CBUAE), Abu Dhabi Police and Dubai Police together, too, have recently launched a national campaign to educate people on the various scams taking place through emails, phone calls, SMS, ATMs, etc.
“First and the most important is to ensure you have a good antivirus software on your computer. Protect your WiFi, passwords and pins.
Besides, the bank is also introducing automation with AI that challenges, verifies and validates the data automatically with the main source (the authorities), eliminating chances of a lot of the fraudulent activities.
No matter how smart fraudsters get, customers can always stay ahead of the game by simply being alert. “It is good to remember that if there is something that is too good to be true, it probably is,” notes Al Qudsi, reminding us that there are no free lunches and it is good to be skeptical sometimes. “It is important to choose the passwords carefully, and update them regularly. If you have more than one account, use different password for each account, and don’t share your passwords with anyone. Also, do not click on the links sent through emails, unless you are sure of the source. Do not share your personal account information with anyone, and keep your banking passwords safe.”
UAB stands to protect its customers. It is incorporating the new technology into its fold and also guiding the customers on how to ensure its optimal use. We as consumers have to just stay in touch with the bank through its relevant channels and other correspondence to stay away from any fraud.