Fraud News

Banks should do more to prevent credit card fraud

Source: TODAYonline

A personal identification number could be introduced to authorise credit card payments and minimise fraud. Photo: Reuters

My family has been bothered by credit card fraud for the past 15 months. I have experienced fake transactions overseas, as have my wife, son and daughter with their respective cards (Contesting a credit card transaction; May 1).

In my daughter’s case, her card had not even been activated for use, while my wife’s card had only been used for payments in Singapore.

The banks viewed the fraudulent transactions as unusual, and alerted us via SMS.

Several of my friends have experienced similar incidents.

The banks did not, however, explain to us how these transactions could have occurred, or how we could avoid such scams.

Click here to read more

Click Here to Read More

Click to comment

Leave a Reply

Your email address will not be published.

Most Popular News

To Top