Potential pitfalls to be aware of
KUWAIT: In the modern economy, digital commerce has emerged as the preferred payment method for the majority of transactions. Most of us possess bank accounts and debit/credit cards, using them frequently to purchase goods, access services, and even transfer money to friends via various online applications.
By Meshari Bin Salamah
The ease of online transactions has significantly contributed to the widespread embrace of cutting-edge digital technologies. However, akin to many technological advancements, digital commerce has a dual nature.
While it provides unmatched convenience, the act of entering sensitive personal data into an app or website portal can result in catastrophic outcomes if that information is ever exposed. Online threats are widespread, but that shouldn’t deter us from engaging in online transactions. Instead, we need to learn to navigate the digital space cautiously. Just like we don’t avoid driving due to road dangers, we can continue transacting online by adopting safe practices, such as using secure websites, protecting our passwords, and being mindful of phishing attempts. Much like driving safely and wearing a seatbelt, taking these precautions online can help reduce potential risks.
Diraya, or “Let’s Be Aware,” was a national awareness campaign that was initiated by the Central Bank of Kuwait and Kuwait Banking Association to highlight consumer rights and increase awareness when transacting online. Below, I will outline seven critical pitfalls that if not properly identified, could result in the disclosure of your sensitive personal information.
Pitfall 1 – Ensure you’re on the right website
Scammers are really good at copying payment websites and making a page that looks exactly like the ones that you use when making payments online. For instance, they might use www.kmet.comto deceive users into believing it’s the legitimate payment domain like www.knet.com.kw.If the fake site looks exactly like the one that you are accustomed to using, then you may not even think to check the domain address. Remaining vigilant, particularly concerning the website address, is essential as a primary precautionary measure.
Pitfall 2 – Banks don’t ask you for personal information online
Be mindful that legitimate online payment platforms will never request your civil ID details or any other personal information. If you come across a fake payment page resembling KNET, remember that KNET will never ask for your civil ID information.
Exercise caution when dealing with fraudulent pages attempting to obtain your sensitive personal data.
Pitfall 3 – Ensure that the website is secure
Whenever you visit a website gathering payment details, ensure it is secure. Look for a lock icon at the top of the page and check for the “https” prefix in the website address. If the website is not secure, you will see a broken lock accompanied by a yellow error icon, or the words “Not Secure” next to the website address.
Pitfall 4 – Receiving a call from your bank? Maybe not!
Always remember that your bank will never reach out to you through WhatsApp. If you receive a call from your bank via the regular phone line, be cautious; genuine bank representatives will never request your civil ID or password over the phone.
Pitfall 5 – Don’t click on any link! Another popular scam involves receiving notifications about a product, prompting you to enter your card number for shipping payment. Many individuals receive messages stating that the post office has parcels for them. It’s crucial not to respond to these messages or click on any uncertain links. Stay cautious and refrain from taking any actions related to such messages.
Pitfall 6 – Keep your devices updated
Failing to install security patch updates on your phone, laptop, or tablet, which you use for online transactions, might compromise software security. Consequently, your personal data could become vulnerable to hackers.
Pitfall 7 – Never give out OTP codes that you receive
OTPs (One-Time Passwords) are codes utilized by banks to confirm your identity during online transactions. Even if someone possesses your card and PIN number, the only additional safeguard is an OTP code. Be cautious if anyone calls, promising a gift and requesting your OTP; it’s likely a scam. Similarly, if a message from a social media contact asks for an OTP or card details, it could be a scammer impersonating your friend. Stay vigilant and avoid falling for such requests. In summary, digital commerce provides unmatched convenience, yet it sparks concerns about our sensitive personal data falling into the wrong hands.
Although worries about data exposure and app security can be overwhelming, the answer isn’t to avoid online transactions entirely. Instead, it’s essential to exercise caution, similar to how we navigate the risks of the road when driving. In this context, Diraya, or “Let’s Be Aware,” serves as a vital national awareness campaign initiated by the Central Bank of Kuwait and Kuwait Banking Association.
Its purpose is to empower consumers with knowledge about their rights and enhance their awareness when engaging in online transactions. In this article, we looked at some ways in which Diraya extends to online transactions to help identify potential scams and security issues. By utilizing these and other practices, you can continue to enjoy the conveniences of user-friendly payment applications while staying safe. Meshari Bin Salamah is Gulf Bank’s chief data and innovation officer.
