Saudi Arabia Sees Rise in Financial Fraud Schemes, Committee Warns of New Methods
A recent initiative launched by the Saudi Banks Media and Awareness Committee has shed light on the various methods used by fraudsters to deceive unsuspecting victims in the Kingdom. Dubbed “Not Normal,” the campaign aims to educate citizens about the latest tactics employed by financial scammers.
Common Fraudulent Methods
According to officials, the committee has identified several common fraudulent methods, including:
- Impersonating bank employees
- Defrauding customers through anonymous calls and online phishing scams
- Exploiting individuals by demanding sensitive banking or personal information
Rise of Digital Currency Fraud
The initiative also highlighted the rise of digital currency fraud, where individuals are lured into investing in cryptocurrencies with unknown entities or companies that promise unusually high returns.
New Methods Emerge
New methods have also emerged, such as:
- Fraudsters claiming to be cybersecurity specialists who allegedly help customers recover from fraudulent activity
- Others posing as job recruiters offering lucrative salaries and daily allowances, only to request sensitive information through fake links
Staying Safe
To avoid falling prey to these schemes, the committee urges citizens to exercise extreme caution when dealing with unknown individuals or entities. They warn against:
- Answering anonymous calls that request bank details
- Ignoring suspicious messages and exaggerated offers
- Providing banking assistance to strangers
The committee also emphasizes the importance of:
- Preserving personal information, bank data, and verification codes
- Keeping passwords confidential
- Changing bank card passwords periodically, especially after returning from abroad
- Ensuring online shopping sites are secure
- Ignoring text messages and emails from unknown origin
- Deleting suspicious communications immediately
- Avoiding accepting assistance requests from strangers when using ATMs
Final Reminder
The committee urges all individuals to deal only with official authorities to avoid being defrauded, and to take necessary measures to protect their personal and financial information. By staying informed and taking the right precautions, citizens can stay safe and secure in the face of financial fraud schemes.