Be Wary Of Credit Card Fraudsters
Police would like to alert members of the public to be wary of a
scam where fraudsters, posing as staff of financial institutions,
would steal credit card details of unsuspecting bank
customers.
2. The scam is perpetuated in this manner. The fraudster, posing as
an investigator of a financial institution, would call up an
unsuspecting bank customer over the phone, and claim that he is
verifying a particular transaction purportedly carried out by the
said customer. After the customer confirmed that no such
transaction had been carried out, the fraudster would then promise
to credit the said amount in the customer's next bank statement,
and to initiate a fraud investigation into the matter. On the
pretext of checking whether the customer still has his credit card
in his possession, the fraudster would request the customer to
provide the 3-digit number located at the signature panel of the
card. Unsuspecting bank customers would then be deceived into
releasing the 3-digit Card Validation Value to the fraudster.
Combined with other credit card details, the fraudster would
perpetrate fraud via internet, mail or telephone.
3. Although the police have not received any reports of such
nature, we would like to advise members of the public to be wary of
such frauds. Anyone who suspect that they may have fallen victims
to such scams are advised to lodge a report at the nearest
Neighbourhood Police Centre.
4. Banks and credit card companies have provided some tips to help
members of the public prevent fraudulent use of credit cards:
Sign new or renewal cards immediately after receiving them.
Keep your card account numbers and personal identification number
(PIN) in a safe and confidential place. Memorize your PIN.
Check your cards periodically to make sure none are missing.
Destroy and dispose of copies of receipts, airline tickets, travel
itineraries, anything that displays your card numbers.
Do not provide information, especially credit card details, that
you're uncomfortable in giving. If in doubt, always call the
card-issuing bank to verify the identity of the caller.
NEVER give anyone the password that you use to log on to your
online account or Internet Service Provider.
Do not provide financial account information unless you are paying
for a purchase using that account.
Do not give out your credit card number/s online unless the site is
a secure and reputable site. Sometimes a tiny icon of a padlock
appears to symbolize a higher level of security to transmit
data.
This icon is not a guarantee of a secure site, but might provide
you some assurance. Make sure the transaction is secure when you
electronically send your credit card numbers.
Do not trust a site just because it claims to be secure. Before
using the site, check out the security/encryption software it uses.
Ensure you are purchasing merchandise from a reputable, reliable
and legitimate source.
Try to obtain a physical address rather than merely a post office
box and a phone number.
Call the seller to see if the phone number provided is correct and
working. Send them e-mail to see if they have an active e-mail
address and be wary of sellers who use free e-mail services where a
credit card was not required to open the account.
Consider not purchasing from sellers who would not provide you with
the required information.
Check out other web sites regarding this person/company.
Check out unfamiliar companies by calling your local consumer
protection agency.
Don't judge a person/company by their web site.
Be cautious when responding to special offers (especially through
unsolicited e-mail).
Be cautious when dealing with individuals/companies from outside
your own country.
Do keep a list of all your credit cards and account information
along with the card issuer's contact information. If anything looks
suspicious or you lose your credit card(s) you should contact the
card issuer immediately.
Do alert your credit card issuing bank immediately if you suspect
the transaction to be fraudulent and your credit card number has
been compromised.
PUBLIC AFFAIRS DEPARTMENT
SINGAPORE POLICE FORCE
3 Feb 2004 @ 5.30 p.m.