Doha, Qatar: Qatar Islamic Bank (QIB), the leading digital bank in Qatar, has intensified its efforts to combat the growing threat of cybercrime by launching a comprehensive awareness initiative. This initiative aims to educate customers on the importance of cybersecurity and to safeguard their personal and banking information during cybersecurity awareness month.
QIB has proactively engaged its customers through various awareness activities and ongoing communications to keep them informed about new cyber threats and electronic fraud attempts. The bank provides guidance on adopting safe practices to protect their data and banking operations, along with practical advice to prevent the rising tide of fraud.
The awareness campaign highlights critical security practices, advising customers on how to protect their personal and financial data. QIB has emphasized common security risks, such as sharing One-Time Passwords (OTP), disclosing card information, using weak passwords, downloading harmful attachments from untrusted sources, and entering personal details on unverified websites. Customers have also been cautioned about prevalent fraudulent schemes, including scam phone calls from individuals impersonating government or bank officials, suspicious text messages with deceptive links, phishing emails from fake delivery companies requesting payments, and misleading social media ads from fraudulent investment firms promising unrealistic returns.
Mr. Rakesh Sanghvi, Chief Risk Officer at QIB, stated, “At QIB, the safety of our customers is our top priority. This enhanced awareness initiative is a crucial step in empowering our customers to protect themselves against cyber threats. By providing them with the necessary knowledge and tools, we are committed to ensuring a secure banking experience for all.”
In addition to these awareness efforts, QIB is continuously enhancing security features to protect customers. One significant measure is the implementation of multi-factor authentication through One-Time Passwords (OTP), which adds an extra layer of security to online transactions by sending a unique verification code via SMS. QIB also offers the Secure Key service, allowing authentication exclusively through the user’s primary device, further bolstering digital banking security. The bank advises customers to use a single primary device for all banking activities, reducing risks associated with shared devices and ensuring stronger data protection.
To provide customers with greater control over their accounts, QIB’s mobile app features allow users to instantly activate or deactivate their banking cards. This tool is particularly beneficial if cards are lost or compromised, as it helps prevent unauthorized transactions. Customers can also manage specific card functions, such as enabling or disabling online purchases or ATM withdrawals, directly through the app. Furthermore, the app enables customers to swiftly report any suspicious activity on their debit or credit cards, allowing for prompt action to prevent fraud.
QIB has also implemented security measures to block access to its mobile banking app from devices using VPN connections or those compromised by malware. As an additional precaution, the mobile banking app is disabled if any remote control application is activated on the user’s phone, preventing hackers from exploiting such apps to access banking accounts. The bank has instituted a cooling period before activating any new beneficiary for transfers, allowing customers to verify the added beneficiary before proceeding with any transaction.
Reinforcing its commitment to data protection, QIB has recently achieved the prestigious PCI-DSS 4.0 certification, a globally recognized standard in cybersecurity and card data protection. This accomplishment underscores the bank’s dedication to ensuring the safety and confidentiality of its customers’ information.
