Online banking fraud: What to watch out for and what to do if you are cheated

 Online banking fraud: What to watch out for and what to do if you are cheated
UAE Central Bank has a customer protection system to regulate the relationship between customers and financial and banking service providers. The legal system in the country also provides a lot of safeguards against banking frauds.
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Dubai: It was past midnight when Fahmi received a text message in Dubai about a purchase worth Dh7,000 from a store in the United States. His credit card had been used for the purchase.

The 37-year-old Dubai-based engineer immediately knew that he had become a victim of credit card fraud as he had never travelled to the US. He called his bank and reported the scam before getting his card blocked and changing the PIN to prevent further misuse. Fahmi then filed a transaction…

Read full article at gulfnews.com