UAE consumers: Nearly 50% have been victims to digital payment scams, says Visa survey
More UAE online users willing to step up digital payments
Dubai: Nearly 50% of UAE consumers using digital payments have fallen for an online delivered scam – or two. In fact, 15% of those polled in a new Visa survey reckon they have been scammed on ‘multiple occasions’.
Even with scammers getting more sophisticated in trapping online users going about making payments, more UAE consumers are willing to go through ‘stronger’ authentication while engaged in a transaction.
“Consumers are now actively spotting red flags and verifying the legitimacy of online interactions, showing a marked increase in awareness,” said a statement issued by Visa as part of its annual ‘Stay Secure’ study.
A whopping 99% of those polled in the UAE say they do ‘actively’ take precautions to secure online transactions.
This is why scammers are trying to get scammers to breach through defenses, and why more of them are trying to garner support from AI-enabled tools to do so.
High level of digital payment acceptance
Meanwhile, more UAE residents will shift in full or partially to digital payments, with over 77% stating that they ‘mostly or completely’ trust such transactions. Eighty-one per cent of respondents surveyed anticipate that they will increase their use of digital payments over the next year.
Key findings of Visa survey results in UAE
Falling for scams
62% have been approached by someone requesting them to transfer money on their behalf. Despite this, only 30% admit to being primarily responsible for falling victim to a scam, while 55% believe others are to blame.
While 59% of surveyed consumers have some degree of confidence in their own ability to spot fraud, 92% worry their family or friends might fall for a scam. Ninety percent (90%) believe that Gen X digital payment users are most likely to get scammed online.
The biggest red flag for fraud is a request to reset passwords or account information due to a data breach, with 68% of respondents ranking it as one of the top three most suspicious messages.
Nearly all surveyed consumers in the UAE remain cautious about suspicious requests. 61% decline to respond to emails asking them to transfer money on someone else’s behalf, while 59% refrain from sharing card or account credentials. Forty-eight percent (48%) have set up text message alerts that notify them of any account transactions.
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