How to protect yourself against the threat of cybercrime

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UBF UAE Against Fraud

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In April last year, UAE Banks Federation (UBF) launched the National Fraud Awareness Campaign, a wide-ranging initiative that aimed to educate customers to protect themselves from financial cybercrime and fraud, particularly in light of the increased use of digital banking services during COVID-19 pandemic. Being the UAE’s first nationwide fraud awareness campaign, this joint initiative was organised by UBF in partnership with Central Bank of the UAE, Abu Dhabi Police, Dubai Police, and TDRA.

Through multimedia content – including articles, educational videos and social media posts – the campaign seeks to equip bank customers with the facts and tools they need to protect themselves against attacks. Encouraged by the overwhelming response that the campaign has received from citizens and residents across the country, UBF has recently decided to extend the campaign by one year, till the end of 2021, with a view to consolidate the successes of the campaign.

The nationwide campaign forms part of UBF’s multi-faceted efforts to combat the growing threat of financial fraud, and was born out of the Federation’s belief that customer awareness and education has a vital and indispensable role to play in keeping fraudsters at bay.

The threat of financial fraud has only increased in a world transformed by Covid-19

– H.E. Abdulaziz Al-Ghurair, Chairman of UAE Banks Federation

Commenting on the “#Fight Fraud” campaign, H.E. Abdulaziz Al-Ghurair, Chairman of UAE Banks Federation, said, “The threat of financial fraud has only increased in a world transformed by Covid-19, making it all the more essential for financial institutions to treat customers as allies in the fight against fraud. Raising customers’ awareness about risky online behaviors and equipping them with the tools they need to protect themselves from attacks should be the first step in enlisting their support in the larger battle against fraud, and this remains the overarching objective behind our campaign.”

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overarching objective behind our campaign.”

Jamal Saleh, Director General of UAE Banks Federation (UBF), said: “Customer vigilance remains one of the most potent forms of defense against financial fraud. Ensuring that customers have a good understanding of what constitutes fraud and how it can be tackled will empower them to take the right security measures against cyber intrusions and fraud and generally be more alert and aware when they are online.”

#Fight Fraud campaign

Here we list some useful tips that together form the central pillar of our “#Fight Fraud” campaign, and which may help customers develop a clearer understanding of how to identify and avoid scams.

Phone Fraud: Have you received a call from your bank asking for your personal information? This could be phone fraud. Always remember that your bank will never ask for your personal/financial information.

Email Fraud: Do not respond to emails from unknown IDs & never click on any suspicious links or attachments. Ignore emails that create false urgency.

Social Engineering: Stay a step ahead of social engineering scams. Never share your personal information with anyone over the phone, email, SMS, or social channels.

Advance Fee Scam: Avoid communications that say you have won a lottery and ask you for an advance payment to claim the prize.

Business Email Compromise: Watch out for emails that request fund transfer to a different account. This could be the work of a fraudster.

Bank Smart: Don’t give a chance to hackers or fraudsters to manipulate your mobile banking. Stay alert.

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Shop Smart: From choosing the right shopping website, to opting for the right payment mode, always choose secure ones.

Social Smart: Keep your social accounts private as well as secure to protect your data from falling into the wrong hands.

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