Along with the recent global glitch known as the “blue screen of death,” experts have raised alarms about the increasing number of victims falling prey to electronic fraud, hackers, and fake brokers. According to Safaa Al-Zaman, a professor of Information Technology at Kuwait University and Head of the Kuwait Society for Information Security, the number of fake broker companies in Kuwait is increasing. These companies adopt misleading tactics to convince victims to engage in trading in capital markets and real estate.

Al-Zaman revealed that the number of banking fraud victims among citizens and residents has reached 200,000 over four years, disclosing that she herself fell victim to electronic fraud. She recounted being informed by a fellow citizen of losing KD 300,000 to a fake trading company. She expressed concern over how these fraudulent companies manage to operate from well-known complexes in Kuwait, using names and labels similar to trusted companies with slight alterations to deceive clients.

Al-Zaman warned individuals that these companies employ non-Kuwaiti workers fluent in Kuwaiti dialect to promise gains exceeding 100 percent of the capital. She also expressed dismay that some local banks facilitate money transfers abroad through applications, which fraudsters could exploit. Al-Zaman indicated that fraud companies might exploit a bank’s identity, hack its email, and reroute victims’ funds to themselves instead of the intended bank account.

Bader Al-Khudhari, an Information Technology professor at the Public Authority for Applied Education and Training (PAAET), highlighted a rise in the number of fake broker companies, indicating that the elderly and less educated are particularly vulnerable. He expressed astonishment over reports that the number of fraud crimes in Kuwait reached 128,000 during the period between 2020 and 2022. Al-Khudhari questioned the actions taken by regulatory institutions in response to these figures and stressed the importance of communication companies strengthening regulations on SIM card purchases to help safeguard the public.

Shafi Al-Ajmi, CEO of Kuwait Petroleum International (KPI), is actively overseeing the company’s branches across Europe and Asia, as well as its global investments, to assess the impact of the recent global technical failure. Despite widespread technical disruptions, all of the company’s international fuel stations continued to operate normally without interruptions. KPI’s supply lines for jet fuel, crucial for global air navigation, remained stable, underscoring the company's resilience and effective management in maintaining operations amidst global challenges.

Sheikh Khaled Ahmad Al-Sabah, Acting CEO of the Kuwait Oil Tanker Company, has assured that the company’s tankers are continuing their global voyages uninterrupted despite the recent global technical glitch. He emphasized that the company is maintaining a close watch on operations and conducting continuous risk assessments to navigate these emergency circumstances effectively.

Similarly, Ahmad Al-Kreibani, CEO of Kuwait Airways, confirmed that the airline’s systems are functioning normally and without interruption around the clock. The airline has ensured continuous communication with passengers, external stations, and security sectors to guarantee the safety of both passengers and aircraft. Al-Kreibani highlighted the swift actions taken by the Cyber Security Sector and the Information Technology Department at Kuwait Airways to isolate any affected systems quickly, demonstrating the airline’s commitment to maintaining uninterrupted operations and providing seamless services to its customers.

As the threat of electronic fraud and fake brokers grows, it is imperative for regulatory institutions, communication companies, and individuals to take proactive measures to protect against these risks. The recent experiences of various industry leaders in Kuwait highlight the importance of resilience and effective management in maintaining operations amidst global challenges.