World-class safety measures protect Saudi banks from fraud: Official

Author: 
KHALIL HANWARE | ARAB NEWS
Publication Date: 
Thu, 2012-01-12 02:26

Talat Hafiz, secretary-general of Media and Banking Awareness Committee of Saudi Banks, was reacting to recent reports that Israeli hackers had obtained credit card and bank account details of Saudi cardholders in retaliation for an alleged attack on Israeli credit card accounts.
The hacker's identity has not been ascertained yet, he pointed out.
Hafiz also stressed that a hacker who allegedly targeted Israel accounts was not a Saudi national. The Saudi Ministry of Foreign Affairs had already rebutted the allegation, he pointed out.
Reports had earlier claimed that someone had hacked 270,000 cards but when "we checked names floating around online media, none of the credit cards had been issued by the Saudi banks," Hafiz said.
He emphasized that the credit and debit cards issued by Saudi banks are safe and secure.
The Kingdom's banks have invested huge amounts in world-class software to protect their customers.
But he advised that customers should follow bank guidelines.
"The banks take all measures relating to cards whether they are about security systems or advise to customers," he added.
Hafiz said Saudi banks had issued 2.5 million credit cards and the total outstanding payment on cards at the end of Q3, 2011, was over SR8 billion.
Talat Hafiz, however, called on the cardholders to follow the banking regulations and warned them against divulging information about their cards to unauthorized people.

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