Personal and Financial Security

Customer security is a top priority for us. As custodians of our customers’ financial assets and personal data, we bear
a significant responsibility for protecting their interests.
We define customer security in two key areas:
- Enhancing financial security, through various measures to protect customer data and funds.
- Preventing the misuse of Bank-offered products, achieved through various mechanisms as described in this Report.
In line with our Code of Conduct, all our offerings comply with consumer protection requirements.
To strengthen customer security and reduce unauthorised transactions* in 2024, the Bank introduced several technological, systemic, and organisational enhancements, including:
- Educational campaigns to inform customers about fraud risks, scams, and prevention strategies;
- Advanced transaction monitoring features within anti-fraud systems and module;
- Enhanced numerous security measures in banking platforms, including: instant blocking of cards and online banking access in suspected fraud cases, or two-factor authentication using the PeoPay app or hardware security keys;
- Increased staffing for anti-fraud alert monitoring.
Recognising emerging regulatory trends in the banking sector, by the end of 2024, we updated our internal regulations in line with the position of the President of the Office of Competition and Consumer Protection regarding unauthorised transactions, as stated in the decision of 16 November 2022.
*An unauthorised transaction is a payment transaction for which the payer has not given consent in the manner specified in the agreement between the payer and the payment service provider. This occurs, for example, when a third party (fraudster) gains access to authentication credentials and uses them to carry out a transaction. Although the authentication process may have been completed correctly, the absence of the payer’s consent – due to the involvement of an unauthorised third party (fraud) – means that such a transaction is classified as unauthorised