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FRAUD CALLS RELATING TO CREDIT CARD
I am sure you have read or heard many people being conned by others claiming to be from either the banks or Bank Negara Malaysia asking for personal details.
In my article Malaysia Credit Card Customer Service Contact Numbers, I mentioned the following:
If you do receive a call for anybody claiming that he/she is from the bank and you are suspicious, call your Customer Service immediately to verify if the call is genuine. Never disclose any personal information to a person calling you over the phone.
Today I will elaborate more on the types of calls that you may get so that you are aware and not conned by organized criminals who feed on your ignorance.
You may get a call from a person claiming to be a bank representative. If they ask you what card you have or your IC number, straight away you know it is a fake call. But sometimes, this people can tell you your actual card type and even the 16 digit card number. They will then proceed to ask you for your address or the 3 digit security number (CCV) behind your card. Never ever release the 3 digit security number behind your card to any stranger who calls you, actually don't even talk to them.
Several times I have gotten calls from a particular genuine insurance company; BUT, the caller will mention something like they are from the bank or even MasterCard or Visa instead of the insurance company and that will piss me off because they are lying out right. And usually, they don't have my card number or much details about me.
And if you say you will call back to the bank to purchase the service, the caller will give you 101 reason why you can't. Sure sign that the caller is not from the bank.
B) Calls claiming to be from the bank or BNM stating that your card has been cloned.
If anyone calls you to tell you that your card has been cloned and then proceed to ask you for your personal information such as Card Number or IC number or CCV number, that call is a fake. If your card was really cloned, the bank may call you and tell you that they have suspended your card and that is all i.e. they won't ask you for any information for verification purposes. And if you do receive this kind of call, hang up and call Customer Service immediately and inform them of such call.
And one thing for sure Bank Negara Malaysia doesn't have the time and wouldn't be bothered to call you and assist you with your problems.
C) Latest SCAM is impersonating a Police Officer or Bank Officer AND Caller ID Spoofing.
Recently, it was reported by LYN members that they have received calls where the caller claims to be a representative of a card issuer and informing the victim that his name (they may even know the victim's IC number) has been used for a credit card application which has accumulated a huge amount owing. The call will then be followed another call by a person claiming to be a police officer and wants you to make a police report over the phone! (If your PDRM can take police report over the phone, that would be just wonderful BUT that won't happen in a zillion years.) And the victim may even get another follow up call from a person claiming to be from Bank Negara Malaysia. Once again, BNM will never call or email you.
Now, take note of this - the caller ID number that showed up on the victims's mobile phone was same as the genuine card issuer Customer Service number and a police station number. People are tricked into believing that they are actually receiving calls from a genuine source with Caller ID Spoofing. Click here to read more on Caller ID Spoofing at wikipedia.
To Note:
- Banks' representatives that calls you should be well verse in English.
- If you get a call from a mobile phone where the caller ask for your personal details, please do not ever entertain them.
The message in this post is also applicable to Debit Card cardholders.
Once again, I will reemphasize here that you MUST NOT ever release your personal information to any strangers who calls you no matter how bad the news is. And even if the number looks genuine, say it looks exactly like the number behind your card, we can't be 100% sure it is genuine with Caller ID Spoofing technology. If you get a call from the bank asking for personal info, hang up and call Customer Service (number behind you credit card only) to verify the call.
Those of us who have credit cards are often disturbed by telemarketers offering bank products such as Personal Loans, Balance Transfers and Insurance. Well, some of us may be interested in signing up for a particular product but how do you know if the calls are genuine? And with Caller ID Spoofing we should be kiasu to the max.
Firstly, if the person is really calling from the bank, they will have your personal information such as your full name and credit card number and as such you do not need to tell them. If you are really interested in the product, my advise is that you call Customer Service (contact number is stated at back of your card and not the number given by others) to verify the call and in most cases you can apply for the product with Customer Service or any of the banks' branches or by fax (number given by CS or stated in the website) or by email (address given by CS or stated in the website).
Secondly, if the number is from a cell phone, you must not entertain them by releasing any of your personal info.
Thirdly, Banks will never ask for your personal information over the phone. For example, you just made a "big" transaction, the bank may call you to verify the transaction and even tell you the exact amount but they will never ask for any of your personal information from your side.
Last but not least, never ever click on emails that show it is from a particular bank (unless you know for sure that it is genuine e.g. bank informing you that your statement is ready for viewing). If you want to log in online, sign out from your email and go to your browser, clear all cache and history and go directly to the bank's website, but never from a link.
Most of these unscrupulous syndicates that tricked you into releasing your personal information, obtain your contact number by purchasing them from unethical people who sell them for some cash. For example, you are at the mall where they are offering freebies with the use of your credit card. So in order to redeem the gift, you have to write down your name, credit card number, contact number and sometimes even your NRIC number. The person who has access to the list of names then sells it for some cash. Be extra careful of people who claim to be doing surveys or promoting products in public places. Sometimes I feel that banks' employees may also be involved as it was reported in LYN forum that someone called to a member where they correctly stated his name and the 16 digit card numbers to enquire if he activate the card. Once again banks got no time for social calls.
NEVER EVER RELEASE your full personal info to strangers (best if you can just give a name not as per your IC, example your IC name is Lee Leng Chai, write down your name as Bruce Lee or L C Lee instead. So when someone calls you with the nickname and claiming to be from the bank, you'll know it is a fake. Same goes for emails. Create one account which is used for contests or merchant mailing and not related to banking. Actually, you should create one email account just for your online banking, separate from other emails and only known to the bank. Click here to read my article on a fake email claiming to be from Maybank.
In my case, I carry many phones with different contact numbers, one for unlimited internet access, one for general use and one only known to the banks and my close family members. So when I get calls on my general line from people claiming they are from the banks, I will be extremely suspicious and if they call me on the phone which I use only for internet surfing, then I know it's 101% a fake call. Usually, when I get calls from telemarketers, I would just say "not interested" and they will hang up. But once in a while I do get the pesky types who will irritate me by asking why I am not interested and I will then reply " tak kerja lagi, takda duit" and that should normally do it.
It would be best if you don't get any fake calls; but if you do, I hope by me writing this article and you reading it, it can prevent you from being conned by malicious blood sucking yet talented con artist out there.
The good news is, effective from 1 January 2012, card issuers are to send out an sms whenever we do a transaction.
SMS ALERT - You're Not In Control.
In my article Credit Card Fraudulent Charges - SMS notification from 1st January 2012 posted back in April 2011, I mentioned:
Bank Negara Malaysia have on 18th March 2011 announced that effective from 1 January 2012, card issuers are to inform cardholders via sms when transactions are made. Below is part of the announcement where in the same press release, BNM informed that one has to earn minimum RM24K per annum to be eligible for a credit card.
In the effort to further enhance credit card security and to promote public confidence in the usage of credit cards as a safe payment instrument, effective 1 January 2012, transaction alerts via Short Messaging Service (SMS) will be implemented by card issuers for their cardholders after transactions are performed. This will be followed by the implementation of the Personal Identification Number (PIN) verification for all card transactions from 1 January 2015 onwards.
1st January has come and gone and we expect to receive SMS Notification when our credit cards are used for any transactions; but, that is not the case. We are now in mid February 2012 and I have yet to receive a single sms from OCBC even tho I have use my OCBC Titanium MasterCard several times to pump petrol on top of the auto debit for my telco and Unifi bills.
Alliance Bank Visa Platinum - I did receive some SMS from them for my Prudential Insurance Policy Premiums auto debit. However, I did not get any SMS from Alliance for several transactions amounting to RM200.
Recently I received a pamphlet from CIMB giving me the option to set the default amount to trigger the SMS Notification when I do use my CIMB Credit Card. It states that if it is left blank, the bank default value applies. Below are images taken from CIMB website, click here for CIMB FAQ on SMS Alert.
From the SMS that I have received and did not receive, I have come to an initial conclusion that there is no standard format for the SMS Notification and that card issuers are not required by Bank Negara Malaysia to sent out SMS for ALL credit card transactions. What a joke, if BNM is serious in combating fraud charges and the banks not greedy in making more money, the SMS Alert should be sent out for ALL types of transactions and NO DEFAULT VALUE SHALL BE APPLIED.
Why do I say it is a joke? Well, the person who stole or picked up your card(s) can go swipe as many times as he wishes (each transaction below the default value) and could total up to a few thousand Ringgit and you won't get a single SMS Notification!
In my opinion, BNM should have stood by fully with its statement released in March last year about the SMS Alert to promote confidence in usage of credit cards. I really don't understand why the card issuers won't sent out SMS for any transaction made especially presented face to face swipes? It will enable the cardholder to report to the bank/card issuer when their card account is being used by unauthorized person and thus prevent loses to the banks.
I keep getting useless SMS from banks on personal loans, balance transfer and all kinds of promotions without stating the terms and conditions BUT they can't sent me a SMS Alert to reconfirm that my card account is being used (when it is below the default value). The banks should stop sending us those pesky SMS and instead use the money to sent us SMS Alert whenever there is a transaction with our card account.
Well, for the benefit of you guys, I have taken the initiative to carry out my own propriety research and My Credit Cards www.creditcardsmalaysia.blogspot.com is pleased to present to you my FREE Service on Default Value for SMS Alert. Below is what I was told about the SMS Alert when I call Customer Service of various banks:
Alliance Bank [update 29 Feb 2012]- Initially I was told there is no default value. I have swiped RM200 several times but did not receive any SMS; however I did receive an SMS for a RM600+ transaction at JPJ for my road tax. I spoke to Alliance CS on 29th Feb 2012 and she confirmed there is a default value of RM500 for face to face presented transaction. And we can change the default value by filing up a form. The CS can either fax or email us the necessary form.
Direct Access ( CIMB ) - Initially the CS told me there is no default value but was told the default value is RM500 to trigger SMS Alert the second time I checked with them.
Citibank Platinum and PremierMiles Priority Line - 1st time usage, any amount for online transaction and autobiling and default amount RM500.00. However, you can request that the default amount be reduced to RM201. You can either do it yourself online or call Customer Service like me since I don't have Citibank Online Account.
OCBC Bank - default amount RM500, but you can fill a form to request that they sent SMS Alert for any transactions! Call Customer Service and they can either email or fax you the form.
Ex-EON Bank Visa Signature Toll Free - the guy I spoke to said it is RANDOM! When I said even if I charge RM20K I may not get a SMS Alert? He then said big amount and online. I then asked again, are you sure there is no default amount? He said he was sure. I tell you, this particular CS (Latiff or something like that) I spoke to was not courteous at all and his tone was like as if he was not bothered. If HLB have more staff like him attending to their Premier Visa Signature card holders, I guess soon I will cancel my card with them.
HLB Platinum Toll Free - the moment you call, the first item was press 1 for SMS Alert :) The CS informed me that SMS Alert will be sent out for first time use of the card, auto debit, 1st time, for petrol and default value is RM1K. Just like OCBC Bank, you can set your default value by filling up a form which she said can be obtained at the branch. The CS I spoke to was much more courteous and informative than her counterpart at Ex-EON Bank VS Toll Free Line.
MBB VI Toll Free Line - not all transactions, the Customer Service representative told me that it depends on the system when it detects a fraud. WOW! MBB system got artificial intelligent that is superior to the human race and can detect when a fraud is in progress! Initially, back in January 2012, I was told that I cannot request for a default value to trigger the SMS Alert. However, I called MBB CS again on 16 February and the CS said they can reset the default value to RM0.01 but it will take a few days to be effective. [Update 25 Feb 2012 - I am pleased to report that I have been receiving SMS from MBB for pumping petrol].
RHB Bank - default value RM500, then I asked can I request to change the default value and she said NO! I then asked her - are you sure? And she said she'll check and still came back with a NO, hahaha.
UOB Bank - Default RM500 for presented transaction and RM1 for online. Cannot request for lower transaction value for the SMS Alert BUT can opt not to receive it.
I hope my work above can be of use to you and help you decide if you need to take further or additional actions. And if you do use any of the above information for whatever reasons, please quote my blog and give it due acknowledgement.
I urge you all to write to Bank Negara Malaysia to let them know our disagreement that a default value is predetermined by the banks for the SMS Alert; and, as such we shall not be hold responsible for any fraudulent charges below the default value (and above too).
OTHER RELATED POSTS
Click here to read my article on Invitation to Increase Credit Limit via SMS.
Click here my article Credit Card Fraudulent Charges - SMS Notification 1 Jan 2012
I like the answer of ' tak kerja lagi, takda duit' haha
ReplyDeleteOlak, thank you for reading my article and to let me know you like the above :) Just as a reminder, please sign up as follower to comment.
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