Enhanced client authentication to prevent hacking
The article focused on tightening the regulatory measures implemented by local banks to enhance the security of digital banking services, especially in the areas of user identity verification when accessing banking applications and making online purchases. The Central Bank of Kuwait issued directives to banks and KNET to include specific data during electronic authentication, such as the time of the transaction, the beneficiary's name, the source of the debit, and the transaction amount. These measures aim to reduce the risks of online fraud and data theft. The procedures also include guidance for customers to refrain from sharing verification codes or authentication data with any third party, and to provide secure options for selecting the method of receiving verification codes, along with alternative mechanisms when the primary method is unavailable. These steps are intended to strengthen the security of digital transactions and minimize both direct and indirect financial risks.
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