Gaza terrorists who rampaged through Israel on Saturday morning stole credit cards from the dead and injured as well as from Israelis who fled their homes leaving behind property and valuables including their wallets.
Israel's credit card companies and banks are handling the matter in coordination with the Bank of Israel and the security forces. The credit card companies have been busy blocking cards that are not in the hands of their owners and denying transactions.
As soon as the general picture of the situation and events in the south became clear, instructions were given to block credit card transactions within the Gaza Strip. This is a relatively easy technical operation, in which transactions are blocked according to country code. So that at least transactions inside the Gaza Strip could be carried out.
Credit card companies also issue a digital credit card to a person who is left without a credit card after leaving home without their wallet. They already opened help line on Saturday for the families and representatives of the victims from the south.
The Bank of Israel said, "Following the security events, we are witnessing cases in which credit cards and bank account details have been misused. Events have been handled from the start by professionals at the Bank of Israel, including a special team under the Supervisor of Banks, in cooperation with the relevant government and security officials."
When it is known where the victim's account or credit card is managed, requests are made by family members to the bank and the specific credit card company, in order to freeze activity of the account. The Supervisor of Banks instructed the supervised entities to act in such a situation to freeze the account, while exercising required risk management and adapting a quick identification process for the situation.
The Bank of Israel emphasized that in accordance with the Payment Services Law, when payment methods are misused by hostile parties to steal citizens' money, the customers' money is guaranteed and returned.
The Supervisor of Banks, commercial banks and credit card companies are carrying out ongoing monitoring and follow-up of the matter. The Supervisor of Banks calls on those who fear that their credit card may be misused to notify the financial institutions, so that they can freeze their activities and prevent financial damage.
If required contact the Supervisor of Banks: 02-6552680 *9086
Published by Globes, Israel business news - en.globes.co.il - on October 11, 2023.
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