Kuwaiti Shopping Platforms Targeted by Sophisticated Bank Card Fraud

Kuwaiti banks report a surge in complaints regarding bank card fraud linked to local shopping websites. Fraudsters exploit vulnerabilities to drain victims’ accounts through unauthorized transactions, creating significant financial concerns. Both banks and customers are engaged in a dispute about responsibility for these breaches, highlighting the necessity for improved awareness and security measures.

Kuwaiti banks have reported alarming increases in complaints regarding advanced bank card hacking. This recent scheme takes advantage of legitimate shopping websites within Kuwait, allowing fraudsters to illicitly withdraw funds from victims’ accounts through unauthorized transactions, primarily executed from foreign locations.

The new hacking method specifically targets users of popular local shopping platforms. Victims often carry out legitimate transactions only to later find their accounts emptied through withdrawals traced back to Italy, despite being physically in Kuwait at the time of the purchase.

The scam typically unfolds as follows: Customers initiate contactless payments on compromised websites and are then prompted to enter their one-time passwords (OTPs). Following a failed transaction notification, they are requested to re-enter their card details to finalize the purchase. Subsequently, they receive alerts about unauthorized withdrawals from their accounts, primarily linked to overseas purchases.

This hacking technique exploits vulnerabilities present in Kuwaiti e-commerce platforms, enabling fraudsters to replicate card information stored on customers’ mobile devices. The compromised information is leveraged for multiple withdrawals, often depleting the card’s limit before victims become aware of the fraud. By the time affected customers reach out to their banks, the hackers have typically drained significant funds from their accounts.

There exists a contentious dialogue between banks and victims regarding blame for these breaches. Banking representatives contend that customers are culpable for these security breaches by unwittingly sharing their OTPs. They assert that neither banks nor the Central Bank of Kuwait are obligated to compensate victims or retrieve stolen funds, especially since the transactions were deemed authorized using valid OTPs from the customers.

Conversely, victims maintain that they adhered to all secure payment processes and had no knowledge of the websites being compromised. Furthermore, they highlight that some websites deceptively advertised compatibility with payment services such as Apple Pay and Google Pay, which were, in fact, unavailable. This inconsistency, they argue, suggests that the websites were infected with malicious code, placing accountability on the platforms themselves for the security failures.

In conclusion, the rise of advanced card hacking schemes exploiting Kuwaiti shopping sites presents a formidable danger to consumers. Victims experience unauthorized transactions after legitimate purchases, while disputes between banks and affected customers continue regarding responsibility for such breaches. Emphasizing the need for heightened security measures and consumer awareness, both banks and shoppers must collaborate to address this evolving threat effectively.

Original Source: www.arabtimesonline.com