Card Fraud

Stay Safe from Card Fraud – What You Need to Know

As we move towards a more cashless society, bank cards (ATM, debit, credit) have become convenient tools—but they also come with risks if not used carefully. Fraudsters are constantly finding new ways to steal your card details and use them to make unauthorized transactions.

Here’s what you need to know:

1. Counterfeit Card Fraud

This happens when criminals create fake cards using stolen information. Sometimes they even manufacture cards from scratch and copy a bank’s branding.

Most card information is stolen through a technique called skimming, where a device is used to secretly copy your card’s magnetic strip when you swipe it at an ATM, POS machine, or even in a restaurant.

Once the card data is copied, it can be transferred to a fake card and used to withdraw money or make purchases—often with your PIN, which they might have seen by shoulder surfing.

2. Card Not Present (CNP) Fraud

This is when your card is used online or over the phone without needing the physical card.

    Fraudsters get your:
  • Card number
  • Expiry date
  • CVV (the 3-digit number on the back)
    They can steal this info by:
  • Watching or photographing your card during payments
  • Phishing emails asking you to “confirm your card”
  • Malware that searches your computer or phone

3. Lost or Stolen Card Fraud

  • If your lost card falls into the wrong hands, it can be used until you report it.
  • If your card is stolen along with your PIN, it’s often used at the nearest ATM and shops until the account is empty.

4. Account Takeover Fraud

Here, criminals pretend to be you by using your personal details to take control of your account. They can:

  • Request a replacement card
  • Access your online banking
  • Make purchases or transfers while pretending to be you

5. Card Never Received Fraud

Sometimes, your new card is intercepted in the mail before it reaches you. The fraudster then uses it as if they were the rightful owner.

Protect Yourself – Practical Tips

Monitor & Secure

  • Check your bank statements regularly
  • Query any strange or unfamiliar transactions immediately
  • Sign the back of your card as soon as you receive it

Online Safety

  • Only shop on secure websites (look for HTTPS)
  • Never send your card number or CVV by email
  • Use different PINs for each of your cards

At the ATM or Store

  • Never let your card out of your sight
  • Always get your card back after a payment
  • Watch the card slot for anything unusual
  • Don’t accept help from strangers at ATMs
  • If your card is stuck in an ATM, call your bank immediately

Use Alerts

  • Subscribe to your bank’s SMS notifications to be instantly informed of any activity on your account

Keep Records Safe

  • Write down your card numbers (not PINs!) and store them securely

If You're a Merchant – Here's What to Do

  • Hold onto the card until the payment is completed
  • Verify the cardholder’s signature
  • Follow POS prompts, including calling for authorization if requested
  • If doing a manual transaction, make an imprint of the card

Final Thoughts

Treat your bank cards like cash. Stay alert, be cautious, and report anything suspicious right away. Protecting your card is protecting your money.