Lama Samhouri, Executive Director of the Financial Consumer Protection Department at the Central Bank of Jordan (CBJ), announced the launch of a new awareness campaign titled "Transition Journey." The campaign aims to elevate financial literacy and digital security standards among citizens to prevent them from falling victim to rising financial fraud.
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Samhouri noted that the CBJ receives numerous complaints regarding fraudulent activities, highlighting that even seemingly minor information shared by a customer can act as a gateway for hackers to compromise their accounts.
The Anatomy of a Scam
Samhouri shared a case study of a citizen who was lured by a fraudulent link promising a prize of JOD 80,000. The victim shared their One-Time Password (OTP) three consecutive times with the scammers, allowing them to gain full access to the account and withdraw funds effortlessly.
Key Safety Directives from the CBJ:
No Phone Solicitations: The Central Bank officially stated that neither the CBJ nor commercial banks will ever contact a customer by phone to request account passwords or sensitive data. Any such request is a definitive indicator of a fraud attempt.
Targeting Individuals vs. Systems: Scammers often target individuals because bank technical systems are highly secured and difficult to breach. They rely on social engineering and phishing links that closely mimic official websites.
Customer Liability: Samhouri emphasized that financial institutions are not held liable for fraud if it is proven that the breach resulted from the customer voluntarily disclosing their private data.
The "Ghaltat Al-Shater" Campaign
The CBJ also revealed the "Ghaltat Al-Shater" (The Wise Man's Mistake) campaign, a three-phase initiative focusing on education. Phases one and two target peak financial seasons, such as the upcoming holy month of Ramadan, when fraudulent activity typically spikes due to increased transaction volumes.
Future Protection Measures
To bolster security, Samhouri mentioned that banks are considering transitioning from SMS-based OTPs to in-app push notifications within mobile banking applications to ensure higher levels of authentication and protection.
