Saudi banks launch initiative that reveals new financial fraud methods  

Saudi banks launch initiative that reveals new financial fraud methods  

Saudi Gazette report RIYADH – The Saudi Banks Media and Awareness Committee has launched an initiative that reveals the new methods of financial fraud. The committee said that the initiative, which is under the name of "Not normal", coincides with the emergence of recent groups that aim to benefit financially through exploitation. The groups use technical and social tricks and technical shortcomings, to create innovative fraudulent methods that exploit some clients. The initiative focuses on the most common fraudulent methods, which include: impersonating a bank employee; defrauding through anonymous calls and exploiting people by demanding their banking or personal information; defrauding customers through fake online stores and via phishing. Moreover, the initiative also focuses on fraud by investing in digital currencies with unknown people or companies that promise people large and quick profits. Forms of financial fraud also include emotional fraud, which is being conducted by exploiting people through a friend request via social media sites. The initiative also included the new financial fraud methods such as the fraudsters claiming to be a specialist working from a cybercrime department. They delude customers by stating they are helping them and telling them that they have fallen victim to fraud. Additionally, the