The National Bank of Ukraine, together with the State Service of Special Communications and Information Protection of Ukraine, is launching a nationwide information campaign on payment security #FinancialCybersecurity starting on May 30, 2024.
The goal of the campaign is to improve citizens' awareness of payment security and to develop skills for protecting financial data in the virtual space.
The current full-scale war continues not only on the battlefield but also in cyberspace, with an increase in cyber fraud and cybercrime being observed.
At the end of last year, the National Bank, with the support of the USAID Project "Investments for Business Resilience," conducted the first nationwide representative survey of the population of Ukraine on payment security rules and fraud prevention. Its goal was to determine the level of knowledge among Ukrainians in the field of payment security and to identify gaps in this area. The National Bank uses the survey results to develop educational products for different age groups and to enhance the effectiveness of information campaigns against payment and cyber fraud (the results are not published to avoid potential misuse by fraudsters).
The most popular method of payment card fraud in Ukraine, as well as worldwide, remains social engineering. At the same time, a significant amount of cyber fraud last year was related to phishing. By using phishing resources (styled as government portals and informational resources of Ukrainian banks and payment services) and deceiving citizens, scammers tried to gain access to their personal data, information about their payment instruments, financial phone numbers, and funds in their accounts.
Therefore, improving the knowledge and skills of citizens in this area will allow them to use cashless payments more cautiously and protect themselves from fraudulent schemes and traps in the virtual space.
"Almost a quarter of financial service users (26%) have encountered attempts of payment fraud, and 3% of them lost money. It is clear that more active consumers who use the internet, online banking, and shop online more often become targets for fraudsters. Therefore, everyone, even experienced users, should improve their cybersecurity knowledge. In particular, it is essential to increase personal cybersecurity awareness regarding account protection rules, cautious use of public Wi-Fi, and analysis of unfamiliar resources for purchases. Through this campaign, the National Bank, together with partners, will raise awareness among Ukrainians to continue forming a safe culture of behavior in the virtual space," said NBU Deputy Governor Oleksii Shaban.
"Cybersecurity of our country is not only about the protection of state information resources, systems, and databases. Although most cyberattacks now have a political or rather military-political component, financially motivated hacker activities continue to pose a threat. Therefore, we must continue efforts to raise awareness among all Ukrainian citizens on how to protect themselves from cyber fraudsters who seek to steal your data and, consequently, your money," emphasized Yurii Myronenko, Head of the State Special Communications Service.
"The results of the nationwide representative survey of the population, conducted with the support of the USAID Project 'Investments for Business Resilience,' showed that more than a quarter of financial service users have encountered payment fraud attempts, and some have suffered from it. A large portion of them are more active consumers who often use online stores, paid online services, and remote banking. The rapid development of technology contributes to the spread of fraud, especially against the backdrop of war, and makes it more difficult to detect. Therefore, measures to raise public awareness of payment security and corresponding informational and educational campaigns should be regular and nationwide. Our Project is happy to support the NBU's survey and campaign against payment fraud #FinancialCybersecurity," said Yulia Vitka, Acting Head of the USAID Project "Investments for Business Resilience."
Globus Bank has become a partner in the payment security campaign #FinancialCybersecurity conducted by the NBU and the State Special Communications Service.
"In a world where every step in the digital space can have consequences, security becomes the key to virtual freedom and financial protection. Globus Bank's partnership with the #FinancialCybersecurity campaign is our contribution to creating a safe and responsible cyberspace for every citizen," said Serhii Mamedov, Chairperson of the Board of Globus Bank.
During the campaign, the National Bank, together with partners, will explain to financial service consumers the basic elements of cybersecurity regarding the following issues:
The information campaign will run until the end of September 2024 in all regions of Ukraine. As part of the campaign, the National Bank is launching a special webpage "Financial Cybersecurity" with detailed information about the campaign and rules of behavior in the virtual space
