Title: Kuwaiti Woman’s KD 17,750 Savings Swiped in Cyber Fraud: A Wake-Up Call Amidst Surge of Similar Cases in Kuwait

Alarming Rise of Financial Fraud Cases in Kuwait

Mohammed Hegab and Lawyer Mohammed Al-Jassem share concerns over the increased occurrence of financial fraud cases, as exemplified by a recent incident involving a Kuwaiti woman, Zahra [1].

Zahra’s Harrowing Cyber Fraud Experience

Zahra, a 37-year-old Indian woman, was victimized by a sophisticated cyber scam. The incident began when she received an unexpected call from an alleged bank employee, using a local number [2]. The caller, posing as a concerned bank representative, requested Zahra’s personal bank account details, promising to update her account and secure her funds. Unbeknownst to Zahra, this was a calculated trap. 18 suspicious transactions of KD 1,000 each drained her bank account, leaving her devastated and utterly defrauded of her entire savings.

For a week straight, I couldn’t sleep after that incident. Her voice kept haunting me. I don’t know how she hypnotized me like that, a visibly shaken Zahra recounted her ordeal.

One month on, Zahra’s case remains under investigation by the bank and the Electronic and Cybercrimes Department.

Types of Cyber Fraud: Identified by Legal Expert Al-Jassem

Al-Jassem, a prominent lawyer, shed light on the nature of Zahra’s cyber fraud experience - a type called “vishing” [3]. Vishing involves fraudsters impersonating bank representatives or trusted financial institutions and conning victims into sharing One-Time Passwords (OTPs) under the guise of account verification or protection.

Al-Jassem named other popular vishing techniques, such as phishing and smishing [3], which exploit users through email, text messages, ransomware and malware, or fake websites to obtain personal data and OTPs.

Lengthy Investigations: Frustration and Fear

Though Zahra’s case is ongoing, Al-Jassem warned that it often takes an extended period for such investigations to yield results. He lamented that the chronic delays create a ripple effect, inspiring further cybercrimes and making it more challenging for authorities to apprehend the criminals. He estimated that the success rate of identifying and capturing these offenders may only reach 2-3% [4].

Possible Remedies: Taking Matters into Their Own Hands

Should individuals filing reports encounter significant response delays, they have alternative options, Al-Jassem noted [5].

1. Compensation Claims: They can file compensation claims against the Ministry of Justice and the Ministry of Interior for neglecting their duties.
2. Corruption Complaint: They could file a corruption complaint with Nazaha, alleging mismanagement of legal reports, which would be considered a constitutional breach of citizen rights.

Banking Expert Hegab: Safeguards and Vigilance

From the banking sector’s perspective, Hegab, a supervisor at Authorization and Fraud Monitoring and Risk Management at one of Kuwait’s leading banks, advised potential victims to exercise caution and never share personal details over the phone [6].

No legitimate financial institution or company will ever contact its clients seeking such sensitive information, Hegab firmly stated. He further advised users to exercise care when making online payments and always verify website safety and payment gateways.

Central Bank Initiative: Empowering Customers

Hegab underlined the banks’ ongoing efforts to develop robust security measures to defend against financial fraud [7]. Yet, he firmly believed that individuals must continue to educate themselves and practice caution to stay protected. The Central Bank and Kuwait Banking Association have launched a campaign, “Diraya” (Let’s be Aware), to inform customers about their rights and financial literacy in dealing with banking institutions.

[1] Mohammed Hegab and Mohammed Al-Jassem commented on the issue. [2] Scammer contacted Zahra using a local number. [3] Types of cyber fraud: vishing, phishing, and smishing. [4] The success rate of identifying and capturing these offenders may only reach 2-3%. [5] Possible remedies for individuals. [6] Advice from the banking sector. [7] Central Bank initiatives to inform and protect customers.