Israeli victims were victims of credit card theft by terrorists

 Israeli victims were victims of credit card theft by terrorists

The credit card firms have been actively refusing transactions and banning cards that are not in the possession of their owners.

Israelis who left their houses Saturday morning, leaving behind property and valuables such as their wallets, as well as Israelis who were killed and wounded, were all targeted by Gaza militants who seized credit cards.

In collaboration with the Bank of Israel and the security forces, the banks and credit card firms in Israel are addressing the situation. The credit card firms have been actively refusing transactions and banning cards that are not in the possession of their owners.

It was decided to prohibit credit card transactions inside the Gaza Strip as soon as the overall picture of the situation and events in the south was obvious. Transactions are banned based on country code in this rather simple technological process. so that at least internal Gaza Strip transactions might be made.

When a person forgets their wallet at home and ends up without a credit card, credit card issuers will also give them a digital credit card. The relatives and representatives of the southern victims already had a support line available on Saturday.

"Following the security events, we are seeing cases where credit card and bank account information has been misused," the Bank of Israel said. Professionals at the Bank of Israel, including a special team under the Supervisor of Banks, have been managing the situation from the outset in collaboration with the proper government and security authorities.

Family members ask the bank and the particular credit card provider to halt activity on the victim's account when it is known where the victim's credit card or account is controlled. The Supervisor of Banks gave the supervised entities instructions on how to respond in this case, which included freezing the account while exercising the necessary risk management and modifying a swift identification procedure.

The Bank of Israel stressed that, in accordance with the Payment Services Law, customers' money is insured and restored when payment methods are exploited fraudulently by adversaries to steal money from their fellow citizens.

Commercial banks, credit card firms, and the Supervisor of Banks are all continuously monitoring and following-up on the situation. The Supervisor of Banks urges people who worry that their credit card can be used fraudulently to alert the financial institutions so they can halt their operations and minimize loss.