PrivatBank said on Friday that it has launched an online program in which clients can verify purchases to increase security against fraudulent payments.
When clients of the bank make a purchase online, they will be required to use the bank's system to verify that a fraudulent transaction did not take place. Payments to online vendors will not be made until the client verifies the purchase.
"Previously, to implement risk charges on which our security system asked further authorization of the client, he had to confirm payment by telephone," Alexander Sokolovsky, PrivatBank's head of internal control and fraud protection, said.
"Now we ask the customer to confirm Privat24 payment using self on-camera smartphone or computer, or enter a PIN code card. It is convenient, especially if the client is on holiday or abroad, quickly ensuring exceptional security payments. "
Clients will be asked to confirm information in line with their account as part of the self-authorization process.
More Stories
- EUROPEAN INVESTMENT BANK: Bosnia and Herzegovina: EIB provides €340 million to advance works on northern part of Corridor Vc
- ABN AMRO SERVICES COMPANY: Fempower Your Growth: like tindering with female entrepreneurs
- EUROPEAN INVESTMENT BANK: Egypt: Team Europe - EIB and Banque Misr work together to support private businesses and speed up the recovery of SMEs from COVID-19
- ASIAN DEVELOPMENT BANK: ADB, NNS Sign Loans to Build Milestone Solar Power Project in Uzbekistan
- ASIAN DEVELOPMENT BANK: $123 Million ADB Loan to Help Build Elevated Walkways in Manila
- EUROPEAN INVESTMENT BANK: Germany: EIB provides €15 million of funding to IDnow
- ASIAN DEVELOPMENT BANK: CAREC Endorses Long-Term Strategy to Promote Safe, Sustainable, and Inclusive Tourism
- EUROPEAN INVESTMENT BANK: EIB Group provides €150 million to support artificial intelligence companies
- ASIAN DEVELOPMENT BANK: ADB Approves $430 Million to Help Rehabilitate Power Distribution Networks in Uttar Pradesh, India
- EUROPEAN INVESTMENT BANK: Greece: EIB backs EUR 470 million road safety scheme