SINGAPORE: A Singaporean ophthalmologist, Dr Zena Lim, fell victim to credit card fraud when her UOB credit card was charged without her authorization. Despite replacing her card multiple times, the unauthorized transactions continued, resulting in a loss of over S$3,600 (RM12,352). Dr Lim expressed her distress over the situation and questioned how the same merchant could charge different card numbers without requiring authentication. This case is one of many reports of credit card fraud in Singapore and abroad, involving legitimate firms like AirAsia, Open AI, and Apple.
Dr Lim reported the incident to the Monetary Authority of Singapore and the police. Although UOB reversed the unauthorized payments, the mystery behind the ongoing fraud remains. Dr Lim expressed frustration with the lack of answers regarding how the fraud occurred. She clarified that she only used her credit card to purchase an AirAsia ticket through eNets debit using her DBS bank account. The situation has raised concerns about the security measures in place to prevent such incidents.
An expert from Acronis, Kevin Reed, stated that Dr Lim’s case is rare, as cybercriminals would need to successfully crack the replacement card details without triggering the bank’s fraud prevention systems. However, he also mentioned the possibility of someone familiar to Dr Lim misusing her cards without her knowledge. Another expert, Candid Wuest, highlighted the potential for glitches in the merchants’ systems or human error in the card replacement process.
Fraudulent transactions for airline tickets are generally uncommon, as they are harder to profit from unless they are sold as discounted tickets on the underground market. The motive behind these unauthorized transactions is still unclear, but loyalty points theft is one possibility. UOB has assured that they will assist Dr Lim and investigate the matter further.
In light of this incident, UOB has implemented preventive measures by lowering the default threshold limit for card notification alerts. Customers are also urged to be cautious about sharing their card and banking details with anyone, even family members. AirAsia, on the other hand, directed inquiries to their guest support page and emphasized the importance of contacting the bank immediately in case of suspected fraud.
To prevent fraudulent charges, individuals are advised to consider using identity theft protection services, set up transaction alerts, regularly check card statements, and promptly alert the bank if unauthorized transactions occur. Temporarily locking cards using mobile banking apps is another recommended practice, as it allows banks to review cases and assist in raising dispute reports if necessary.
Credit: The Star : Tech Feed
