Financial Crime World

Banks in Qatar Take Measures to Prevent Fraud: Commercial Bank Introduces Innovative Security Feature

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Commercial Bank, a leading financial institution in Qatar, has introduced an innovative security feature on its mobile app to combat growing concerns of fraud. Dubbed CBsafe ID, this cutting-edge solution aims to prevent fraudulent calls and protect customers’ sensitive information.

What is CBsafe ID?

CBsafe ID is a unique technology that empowers customers to identify legitimate calls from the bank and verify caller authenticity. This feature sends a push notification to customers’ mobile devices, followed by a dynamic six-digit code displayed on their login page within the CBQ Mobile App.

How Does it Work?

To use CBsafe ID, customers must follow a specific protocol when receiving a call from someone claiming to be from Commercial Bank:

  • Request the caller’s CBsafe ID number
  • Do not disclose your own CBsafe ID at any point during the conversation
  • Verify that the provided CBsafe ID matches the one displayed on the mobile app login page
  • Only proceed with the discussion if the caller provides a correct CBsafe ID number

Additional Security Tips

To ensure maximum security, customers should remember to:

  • Not share any one-time passwords (OTPs), card PINs, usernames, or passwords with anyone
  • Ensure they have downloaded the latest version of the CBQ Mobile App

Why is CBsafe ID Important?

The introduction of CBsafe ID is a significant step towards enhancing customer security and protecting against fraudulent activities. With fraudsters constantly devising new ways to deceive victims, knowing what to look for is crucial to identifying and preventing fraudulent activities.

Conclusion

By introducing CBsafe ID, Commercial Bank has demonstrated its commitment to providing customers with the latest technology and innovations to ensure their financial transactions are secure and protected. This feature is a game-changer in the fight against fraud, and customers can rest assured that their sensitive information is better protected than ever before.