Banks Tighten Belts to Prevent Fraud in Papua New Guinea
Introduction
In a bid to curb fraud in Papua New Guinea, Kina Bank has implemented several measures to prevent and detect fraudulent activities.
24/7 Monitoring System
Kina Bank’s 24/7 monitoring system tracks all Visa and local card transactions, identifying suspicious patterns and taking swift action to prevent future occurrences. This system helps to detect fraudulent activities in real-time, ensuring that customers are protected from financial loss.
Fraud Prevention Team
The Fraud Prevention team is responsible for investigating and verifying all suspected cases of fraud, ensuring that customers are protected from financial loss. To reduce the risk of fraud, the team monitors transaction patterns and develops strategies to prevent fraudulent activities.
Customer Support Services
In addition to monitoring transactions, Kina Bank also provides customer support services, including:
- Updating OTP delivery channel data
- Clarifying generic queries related to Visa Secure service
- Urging customers to inform them of their travel plans before traveling, allowing for updates to be made on relevant systems
Monitoring Transactions
The bank’s Fraud Prevention team monitors all transactions originating from Kina Bank EFTPOS terminals, ATMs, and online merchants, investigating and verifying all suspected cases of fraud. Counteractions are taken to prevent future occurrences.
Staying Safe from Fraud
To stay safe from fraud, customers can learn how to:
- Protect their accounts
- Detect phishing attacks
- Keep their card information secure
through the bank’s online resources.
Commitment to Customer Security
In a statement, Kina Bank emphasized the importance of protecting customer data and finances, saying “Your financial security is our priority. We are committed to preventing and detecting fraudulent activities and ensuring that our customers have a safe and secure banking experience.”
Efforts to Prevent Fraud
The bank’s efforts to prevent fraud in Papua New Guinea come as the country continues to grapple with high rates of financial crime. By implementing robust measures to detect and prevent fraud, Kina Bank is helping to protect its customers and maintain trust in the banking system.
By adopting these measures, Kina Bank is demonstrating its commitment to protecting its customers’ financial security and preventing fraudulent activities.