Banks to provide free SMS alerts

KUWAIT: The Central Bank of Kuwait has instructed all local and foreign banks in the country to provide their clients with free Short Message Service (SMS), giving them real-time transaction alerts.

The SMS service encompasses all debit card transactions as well as online banking, but clients can be contacted through other means if they choose so, Governor Mohammad Al-Hashel said in a statement. He revealed that the service will be up and running on Sept 16 and is part of plans to provide customers with top-notch banking services, helping banks to deal with any potential cyber threats. Hashel also described the measure as a surveillance tactic that assures clients of foolproof security, given the alarming rise in banking fraud. — KUNA

This article was published on 15/08/2018