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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.
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.
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.
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 February 2004 @ 5.30pm |
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| Last updated on 17 May 2007 |
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