PRAVEX BANK became a partner of the payment security campaign #CyberSecurityFinance conducted by the National Bank of Ukraine and the State Service of Special Communications and Information Protection of Ukraine


Starting May 30, 2024, the National Bank of Ukraine, in cooperation with the State Service of Special Communications and Information Protection of Ukraine, launched a nationwide information campaign on payment security, #CyberSecurityFinance. The goal of this campaign is to raise citizens' awareness about payment security and develop skills to protect financial data in the virtual space.

The full-scale invasion continues not only on the battlefield but also in cyberspace, where there is a notable increase in cyber fraud and cybercrime. 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 on payment security and fraud prevention. The aim was to assess Ukrainians' knowledge of payment security and identify gaps in this area. The National Bank uses the survey results to develop educational products for different age groups and enhance the effectiveness of information campaigns against payment and cyber fraud (the results are not published to avoid potential misuse by fraudsters).

The most common method of payment card fraud in Ukraine, as worldwide, remains social engineering. Additionally, a significant portion 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, fraudsters attempted to access personal data, payment information, financial phone numbers, and account funds.

Therefore, improving citizens' knowledge and skills in this area will enable them to use cashless payments more cautiously and avoid fraudulent schemes and traps in the virtual space.

"Almost a quarter of financial services users (26%) have encountered attempts of payment fraud, with 3% of them losing money. It is evident that more active consumers who frequently use the internet, internet banking, and online shopping are more likely to be targeted by fraudsters. Therefore, everyone, even experienced users, should continuously improve their cybersecurity knowledge. This includes increasing personal cyber awareness regarding account security rules, cautious use of public Wi-Fi, and analyzing unfamiliar resources for purchases. Through this campaign, the National Bank and its partners will raise awareness among Ukrainians, fostering a culture of safe behavior in the virtual space," said Oleksiy Shaban, Deputy Governor of the NBU.

"Cybersecurity in our country is not just about the protection of state information resources, systems, and databases. While most cyberattacks now have a political, specifically military-political, component, financially motivated hackers also continue to pose a threat. Therefore, we must continue working to increase awareness among all Ukrainian citizens about how to protect themselves from cyber fraudsters who aim to steal your data and, consequently, your funds," emphasized Yuriy Myronenko, Head of the State Service of Special Communications and Information Protection of Ukraine.

"The results of the nationwide representative survey conducted with the support of the USAID Project 'Investments for Business Resilience' showed that more than a quarter of financial services users have faced attempts of payment fraud, and some have fallen victim to it. A large portion of these victims are more active consumers who frequently use online stores, paid online services, and remote banking. The rapid development of technology facilitates the spread of fraud, especially in the context of war, and complicates its detection. Therefore, measures to increase public awareness of payment security and corresponding informational and educational campaigns should be regular and nationwide. Our project is delighted to support the NBU's survey and campaign against payment fraud, #CyberSecurityFinance," noted Yuliya Vitka, Acting Project Leader of the USAID Project "Investments for Business Resilience."

PRAVEX BANK supported a campaign aimed at enhancing financial literacy and cybersecurity for Ukrainians.

"As technology advances, so does cyber fraud. In these challenging times for the country, fraudsters invent new ways to deceive people. PRAВЕКС BANK is doing everything possible to anticipate and prevent new fraud schemes. We continuously improve and strengthen security measures so that our clients can trust us with their finances. Additionally, PRAVEX BANK regularly conducts financial literacy educational campaigns and supports the informational initiatives of the National Bank of Ukraine. We are convinced that through joint efforts, financial literacy in Ukraine will rise and overcome the current level of awareness in society," stated Semion Babaev, Deputy Chairman of the Management Board, Head of the Main Business Department of PRAVEX BANK.

During the campaign, the National Bank and its partners will educate financial services consumers on basic cybersecurity elements concerning:

  • How to protect their accounts, computers, smartphones, and other devices from external interference;
  • How to create strong and unique passwords;
  • How to set up multi-factor authentication;
  • How to check websites where users enter their payment data, files, mobile applications, and other programs before downloading;
  • How to use public and home Wi-Fi networks correctly;
  • How to maintain software on personal devices and other rules for safe behavior in the virtual space.

The informational campaign will run until the end of September 2024 across all regions of Ukraine. As part of the campaign, the National Bank is launching a special webpage (landing page) "Cybersecurity of Finance" with detailed information about the campaign and rules for behavior in the virtual space.

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