Saudi reports surge in financial fraud
There has been a surge in incidents of financial fraud being practiced by unscrupulous people to cheat bank customers, according to a Saudi Central Bank (SAMA) report, obtained by Okaz/Saudi Gazette.
The SAMA report for the year 2021 said the fraudsters use multiple methods to gain access to people’s banking data and personal credentials to steal their money.
The report shed light on various methods being employed through both traditional and electronic channels to gain access to customers’ banking data.
SAMA urged bank clients to practice the highest degree of caution against fraud and abstain from disclosing bank and personal data, such as passwords and PINs to any person or party under any circumstances. It underlined the importance of ensuring the reliability of websites that the customers deal with.
