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Tuesday, April 08, 2025
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KIB warns of fraudulent schemes targeting users of the WAMD service

publish time

07/04/2025

publish time

07/04/2025

KUWAIT CITY, Apr 7: Kuwait International Bank (KIB) reaffirmed its commitment to enhancing banking awareness among ‎its customers, as part of the “Let’s Be Aware” (Diraya) campaign, launched by the Central Bank of ‎Kuwait (CBK) and the Kuwait Banking Association (KBA) in cooperation with local banks. The ‎campaign aims to educate customers about the risks of banking fraud and to promote financial ‎inclusion within the community.‎

In this context, the Bank warned of an increase in fraud attempts involving the WAMD instant ‎transfer service. Scammers typically contact individuals, claiming they have mistakenly transferred ‎funds to their accounts, and then request a refund through payment links sent via WhatsApp or ‎SMS. These fake links are often designed to steal sensitive financial information, such as bank card ‎details, OTP numbers, or login information for online or mobile banking services, leading to theft of ‎money from customers.‎

Mohammed Al-Sarraf, Assistant Manager – Anti-Fraud Unit at KIB, said: “We are committed to ‎protecting our customers from all forms of fraud and urge everyone to stay vigilant and report any ‎suspicious payments to their bank immediately. They should also refrain from interacting with ‎individuals claiming to have received funds by mistake. They should also avoid engaging with ‎suspicious links received through social media.”‎

Al-Sarrafadded that KIB remains committed to educating customers on essential precautions when ‎using the WAMD service—such as verifying recipient details and their phone number, confirming ‎the transfer amount before sending, and saving the recipient’s number in their contact list to ensure ‎secure transactions.‎

It is worth noting that KIB consistently monitors emerging fraud tactics and works to keep customers ‎informed by offering guidance and practical tips to help protect them from potential scams. The ‎Bank also shares awareness materials across its social media platforms to ensure the ‎Dirayacampaign’s messages reach the widest possible audience and to empower customers to ‎navigate evolving banking challenges. These efforts reflect KIB’s ongoing commitment to ‎deepeningits relationship with customers by fostering trust in its services and reinforcing the values ‎of security and transparency in all banking transactions.‎