NBK warns against scams using deepfake technology

Underscoring its dedication to raising public awareness and active participation in enhancing financial literacy and inclusion among all people, National Bank of Kuwait (NBK) continues promoting the “Let’s Be Aware” campaign introduced by the Central Bank of Kuwait, in cooperation with local banks and Kuwait Banking Association (KBA).

NBK intensifies awareness by sharing educational material including video clips, text messages, and tips across its social media platforms and other digital channels, as well as reposting CBK’s communications. This aims to raise awareness among all people and familiarize them with different fraud schemes and the required precautions to steer clear of banking scams. In this context, NBK highlights scams using Deepfake, a sophisticated AI technology used to create videos in which a person’s face and voice are digitally altered so that they appear to be those of a famous and trusted person. This scam targets convincing people to invest in certain companies, trade on certain platforms, or promote investments.

Deepfake is also used to create convincing fake videos or audio recordings that can deceive individuals into giving away sensitive information or making unauthorized transactions.

NBK advises customers to beware of ads about lucrative investments, especially those appearing on social media, tempting people with cash prizes, or ads impersonating well-known companies aiming to trick them into investing in attractive stocks and bonds with high returns, provide false information about a real investment, or entering trading websites and registering personal information to obtain profits, as all these are scams for identity theft, and obtaining personal and banking information.

NBK also urges customers to avoid communication with unknown parties impersonating official institutions by using the same logo or the same IVR message to trick victims into believing they are employees of that institution, which may expose the victim to fraud from unknown parties. Therefore, NBK calls to ignore such calls and not disclosing any banking information to any party, in addition to following the bank’s tips and instructions to avoid any scams. Additionally, it affirms that it will never ask customers for personal information via e-mail, SMS or phone calls, warning them of responding to such scam messages trying to obtain their banking information to steal their money.

NBK’s role is not limited to warning, but also extends to providing various safe investment and savings alternatives that suit all customer segments.

It is worth mentioning that NBK is a key promoter and participant in all CBK’s campaigns and initiatives to increase financial and banking awareness among different segments of society. As one of the leading financial institutions in Kuwait, the bank frequently organizes various activities to raise awareness on all topics related to the banking sector, as well as a wide range of training courses for its employees to enhance their knowledge and expertise in the areas of combating fraud and financial crime.