Card Fraud

 

Card fraud is theft or fraud committed using cards e.g. credit, debit and prepaid card. Card fraud always begin with lost or stolen card as well as data compromise.

Type of Card Fraud

  • Lost or Stolen Card  - Fraudsters use your lost or stolen card to make unauthorized purchases or take out cash advances from your account.
  • Account Take Over - Fraudsters use your existing card fraudulently after obtaining your confidential information.
  • Non Received Issuance - Fraudsters intercept genuinely issued cards before the cards reach the authentic card holders.
  • Identity Take Over -  Fraudsters use your personal information to contact the bank, posing as you, to change your account information e.g. address, phone number etc and get the bank to send them a new card.
  • Genuine Customer Fraud/ Opportunistic Fraud - Genuine applicants falsify documents to improve card approval chances.

 

How to protect yourself?

  • During a transaction, keep an eye on your card.
  • Do not reveal your confidential information e.g password or PIN to anyone.
  • Notify the bank if there is amendment to your address or contact information.