Kuwaiti banks report rising cases of bank card fraud linked to local e-commerce sites. Customers are losing money through unauthorized withdrawals following attempts to complete purchases. This article discusses how the fraud unfolds, the devices used by hackers, and the resulting tension between bank policies and customer experiences.
In Kuwait, banks are experiencing a rise in complaints about bank card fraud linked to local shopping websites. The innovative hacking method enables attackers to divert money from victims’ bank accounts by exploiting these legitimate sites. Many customers have reported unauthorized withdrawals that occur after they attempt to make purchases online, raising concerns about security in the e-commerce sector.
The mechanics of this fraud involve several steps. Initially, customers place contactless smart payments on compromised websites. After being prompted to enter a one-time password (OTP), they receive a message indicating the transaction failed. Subsequently, they are requested to re-enter their card information to finalize the purchase. Days later, these individuals are alerted to unexpected withdrawals, often originating from foreign transactions.
Fraudsters take advantage of existing vulnerabilities in local e-commerce platforms, enabling them to capture card data from users’ devices. This stolen information is utilized for numerous withdrawals until the victim becomes aware of the situation. Often, by the time customers attempt to report these incidents, their accounts have been significantly depleted.
In this ongoing issue, banks are placing the blame on customers for the security breaches, arguing that they inadvertently exposed their OTPs. They state that there is no obligation to reimburse victims, as banks confirmed that transactions were enacted through valid OTP confirmations. In contrast, victims assert that they adhered to all necessary protocols and that the websites used were not secure, with claims of support for widely-used payment services being misleading.
The rise of hacking incidents targeting Kuwaiti shopping websites underscores the urgent need for improved security measures in e-commerce. Both banks and consumers face challenges: banks argue that customers mishandle their security, while consumers contest the reliability of the sites they frequent. This situation highlights the critical importance of consumer awareness and rigorous security practices in online transactions.
Original Source: www.arabtimesonline.com
