1. #1

    Join Date
    Aug 2011
    Lahore, Pakistan
    Blog Entries

    Credit Card Fraud: A real life case of how you can fall in trap

    If you are holder of a credit card, you are always exposed to fraud if you are not careful. Let me share with you a real story of a fraud that recently happened with a person I know very well.

    This incident of fraud is a case of fraud accompanied by many co-incidents. Let me tell you the sequence of events that led to this fraud. The person is about to leave for her native place to spend time with family on the occasion of a traditional festival. She is little disturbed as she has got news about admission of her brother in a hospital. When she planned her trip, all was well at home.

    Co-incidentally at this time she receives a call from a person claiming himself to be the representative of the bank in which she is holding her bank account and credit card. The person calling her seems to be a master of frauds as at no stage the girl is able to realize that this is not a real call from the bank. The person calling tells her that her credit card will be blocked shortly as there are some issues with the card. Card is being blocked because of security reasons. After sometime, a new card will be sent to her.

    This call disturbs the girl as she is always worried about hospitalization of her brother and starts wondering about how she will be able to make payment for hospitalization expenses of her brother if the card gets blocked. The person on the call tells her that if she does not want the card to blocked, he will create transaction PIN for her which she has to share as the PIN will be received on her mobile. Using PIN, card details will be updated and her card won’t be blocked. The victim does not realize that that this is case of fraud. Caller generates a PIN and PIN details come on the card of the girl. After receiving the PIN, girl is asked to share the PIN. Worried and not in right frame of mind, the victim shares PIN details with the caller.

    Now caller has everything required for fraudulent transaction i.e. card details, CVV and PIN. The caller uses the PIN and carries two transactions using the card for around 19000 rupees. The girl receives a message on her mobile which mentions that transactions have been done on her card. After this, the girl concerned starts her fight to take on fraudsters. She first approaches police who refuse to file FIR. Then she visits the branch of the bank where branch manager says that she needs to obtain a complaint number from the customer care. Customer care also refuses to give compliant number. Now, she is planning to approach the top management of the bank for this fraud and also take recourse to legal action.

    While her fight is going on bring fraudsters to book, this incident also brings to light a critical question about card safety. At no stage, you should share details such as PIN with anybody. Treat your card as a confidential document and understand the risk associated with the card.

    How to be Safe from Credit Card Frauds:

    • Never ever give your credit Card Number, CVV code and PIN to anyone over the phone.
    • Never give credit card copy to anyone.
    • Never send images of credit card (specially back side) to anyone with your smartphone, using WhatsApp, Messenger, Skype or any other apps.
    • Never save your credit card information in automatic card filling options now available in most of the internet browsers.
    • If you are unsure of anything, ask your bank helpline before doing it so. Most of the bank helplines are toll-free numbers.
    • Install a Widget called MyWOT to check any website authenticity for online transactions. The app is available for both Google Chrome and Firefox, if installed, and you visit any online shopping website, indicates a green Circle showing the website is secure, Orange Circle to show there are some risky/fraud incidents, Red Circle showing a lot of risky/fraud incidents happened on that particular website. If it shows ? Question mark, it means website is new and is meant to be checked at your end before doing any online transaction.
    • Make sure the website is using HTTPS protocol on their URLs otherwise your data and information is not secure on that website. Never do transactions on HTTP protocol as HTTPS is the new web standard and it is safe and secure.

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