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There
have been increasing cases in Singapore of customers
hit by fraudulent charges made on their credit
cards. In order to protect yourself against
these skimmers who work in syndicates, find
out below what is skimming and how you can prevent
it from happening to you.
What
is Skimming?
A process where Cardmember's details and security
code on the card's magnetic stripe is copied
and transferred onto the magnetic stripe of
the counterfeit card. The cloned card is then
used to pay for goods, and the cardmember will
be kept in the dark till the fraudulent charges
appear in his statement.
| How
do you avoid it? |
- Never
part company with your card - try to
ensure all transactions are done before
your eyes
- Do
not allow anyone to swipe your card
through the gadget in the name of some
survey or product trial
- Check
your monthly statement for any unauthorised
charges as soon as you receive it. Report
any discrepancy to us immediately.
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