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CFM’s response to public concerns on Credit Card Fraud & Identity Theft

 

CFM’s response to public concerns on Credit Card Fraud & Identity Theft

20 JAN 2009, BY CFM

Kuala Lumpur, 20 January 2009 – There have been recent comments in the media from readers concerning the credit card fraud and identity theft using mobile phones.

The Communications and Multimedia Consumer Forum of Malaysia (CFM) would like to advice consumers to be vigilant when receiving any calls, SMS or e-mail messages claiming that it is from any commercial banks or Bank Negara Malaysia.

 

There has been an increase in incidents of fraudsters making such calls and sending SMS / e-mail to unsuspecting members of the public in order to fraudulently obtain their personal banking information.

 

Consumers are reminded that banking institutions do not use such practices and requests for personal information for verification purposes are normally for transactions initiated by the account holder.

 

“Banks will only ask for personal details to verify that the person calling them is actually the account holder. This happens only when they are called and when the caller asks for access to the account information or wants to do a transaction..  They never ask for the caller to divulge their PIN number.  On the other hand, the fraudsters would try to establish contact with the potential victim and are persistent when asking for the confidential information.  Once they have sufficient information, they will be able to illegally transfer funds out of the victim’s bank or credit card account or change settings such as passwords, PIN numbers and so on” commented Muhamad Tahir Muhamad Noor, CFM’s Executive Director.

 

Consumers are advised to immediately lodge reports to their respective banks and the police if they suspect that they have become a victim or when someone is forcing them to reveal  personal data over the phone or through e-mails and SMS.  Consumers may call CFM at 1 800 18 2222 or access the CFM’s online Complaint Portal (CoP) at www.cfm.org.my.

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