FRAUD ALERT: Egyptian Banks Warn Customers of Phishing Schemes

13 Incidents Result in EGP 2.7 Million Loss

In response to a recent phishing incident affecting several Banque Misr customers, banks operating in Egypt are issuing warnings about fraudulent activities and schemes that could compromise customers’ financial information.

Estimated 13 Incidents Result in Theft of EGP 2.7 Million

According to Chairman of Banque Misr Mohamed El-Etreby, an estimated 13 incidents have resulted in the theft of approximately EGP 2.7 million from unsuspecting victims who received phishing messages or calls claiming to be from the bank.

Major Banks Warn Customers Against Fraudulent Activities

Several major banks, including:

• Commercial International Bank (CIB)
• National Bank of Egypt (NBE)
• Housing and Development Bank
• Arab African International Bank (AAIB)

have sent out warning messages to their customers, urging them to be vigilant against fraudulent activities.

Banque Misr Proactive Response

Banque Misr has been particularly proactive in its response, sending text messages to customers warning them about suspicious calls or messages claiming to be from the bank or government agencies. The bank is also using social media to educate customers on how to spot and avoid phishing scams.

Tips for Avoiding Phishing Scams

• Never disclose any banking information or pin numbers to anyone, even if it’s for customer service.
• Be cautious of unsolicited calls or messages claiming to be from the bank or government agencies.
• Verify the authenticity of messages or calls by contacting the bank directly.
• Use strong and unique passwords for online banking.

Banque Misr Takes Action

In addition to the warnings, Banque Misr has suspended electronic transactions from its accounts to prepaid Meeza cards in response to the recent fraud. The bank has accepted full responsibility for the stolen funds of its clients and is working closely with authorities to investigate the incident.