KIB warns customers against falling victim to real estate fraud through social media platforms and ad apps

Kuwait International Bank (KIB) has issued a warning to its customers about fraud schemes targeting individuals seeking properties for sale, rent, and investment through widely used social media platforms and advertisement applications. The Bank explained that many people have fallen victim to these types of scams, noting that it is cooperating with relevant authorities to mitigate these incidents and identify those responsible. This step is part of KIB’s commitment to monitoring all developments related to digital and traditional financial fraud. It also underlines the Bank’s continuous support for the “Let's Be Aware” (Diraya) banking awareness campaign, dedicated to promoting financial and banking literacy among all segments of society.

Commenting on the occasion, Dawood Behbehani, Assistant General Manager - Information Security, Privacy and Anti-Fraud Department at KIB, said: “Our efforts continue to yield positive results in combating all fraud trends targeting our customers and community members who use various digital applications and platforms. We have seen a significant increase in attempts to devise new methods for breaching individuals’ financial and personal data and stealing their money through dubious and unauthorized means.”

Behbehani added: “At KIB, we always urge our customers not to trust unknown sources claiming to specialize in renting or selling properties and apartments, particularly those who offer unrealistic prices. We are committed to our awareness strategy, which focuses on disseminating specific educational materials and content to protect our customers from falling victim to fraud schemes, especially those carried out through social media or digital applications.”

Behbehani advised all customers to verify the reliability of companies they communicate with through social media applications regarding renting or selling properties. He emphasized not sharing any personal payment links or making payments for booking apartments or various real estate spaces without official documents or proof.

It is worth noting that KIB spares no effort in initiating awareness campaigns to educate customers and community members about the importance of maintaining financial security, avoiding fraud, and protecting their money from theft. This includes advising against disclosing any banking or personal confidential information. KIB disseminates educational content across all its social media pages, participates in relevant events and activities, and keeps up with banking awareness campaigns, foremost among them is the Diraya campaign. These efforts underscore the Bank’s commitment to its comprehensive social responsibility strategy, embodied in its main slogan, “Bank for Life.”