A specialist in law and finance from Dubai, who has been assisting locals in rescuing money from debt traps and internet frauds, was also a victim of fraud. However, he was able to get the money back right away, and he wanted to offer advice on how to do so and steer clear of fraud.
First, Barney Almazar, director at Gulf Law in the UAE, Philippines, UK, and Portugal, underlined, “The responsibility to prevent fraudulent transactions does not rest alone with the cardholders, as card issuers must also have a big share in that responsibility.”
Almazar restated: “It is the civic responsibility of credit card providers to safeguard cardholders and stop fraud. Adding a layer of security to online transactions through multi-factor authentication makes it more difficult for hackers to obtain unauthorized access.
The best way for banks to remain ahead of emerging fraud strategies is to improve their security procedures and systems constantly. He went on, “Banks have zero liability policies in place in various jurisdictions, guaranteeing that clients are not held accountable for fraudulent charges as long as they notify them immediately.
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