Monday, April 18, 2011

Continued Vigilance

It was quite a shocking newspaper headline on Star Online last week that said "Now Even Postmen are Involved in Credit Card Fraud"?. The Kuala Lumpur police have arrested 13 people including seven postmen for involving in a credit card fraud syndicate in the Klang Valley amounting to about RM500,000. The postmen are believed to have intercepted new credit cards from the mail, switched the credit card chips, before going on a spending spree. City deputy police chief Senior Asst Commissioner Datuk Amar Singh told reporters at the IPD Cheras that the syndicate had been in operation since 2009. The police believe that the syndicate had used the credit cards to purchase luxury items including electronic goods. As consumers, we have to be vigilant at all time. One of the initiatives to be taken by Bank Negara will include the recently announced transaction alerts via Short Messaging Service (SMS) which are sent by card issuers to cardholders after transactions are performed.

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