National Bank of Kuwait – Egypt (NBK) has warned its customers of the online fraud risks tied to fake offers and unrealistic prices circulating on some e-commerce websites. The bank stressed the importance of being careful and verifying that online stores are trustworthy before making purchases or entering bank card details.

The bank explained that offers that look too good to be true can be a tool fraudsters use to deceive users and steal their personal and banking data, especially when shopping on untrusted websites or responding to offers promoting unusually low prices compared with prevailing market prices.

NBK Egypt stressed the need to confirm an online store's credibility before entering bank card details, and not to be drawn in by tempting offers without checking their source, as dealing with untrusted websites can expose financial and personal data to theft and misuse.

These warnings matter all the more given the growing reliance on online shopping for products and services. Customers need to watch for signs that may point to fraud attempts and use well-known, trusted websites when carrying out financial transactions online.

How do you protect your bank card details when shopping online?

A number of steps can help customers reduce the risk of online fraud, most notably:

  • Verify the online store: confirm the website is credible before buying or sharing any personal or banking details.

  • Beware of unrealistic prices: don't be drawn to offers with exaggerated discounts without checking that they are genuine.

  • Protect your bank card details: only enter card details on trusted, secure websites.

  • Don't rush to buy: review the details and source of an offer before completing payment, especially with unfamiliar stores.

  • Watch out for fake offers: be aware that some offers may be used as a means of fraud and of harvesting customers' banking data.

The warning is part of NBK Egypt's commitment to raising customer awareness of online fraud risks and encouraging safe practices when using bank cards and carrying out online transactions.

The bank stressed the importance of keeping banking data confidential and checking the source of offers before engaging with them, to avoid falling victim to fraud that can lead to real financial losses.