What's in it for FinTech startups in events like Biban24    Al Nassr and Al Hilal share points in intense Riyadh Derby draw    SFDA chief discusses investment opportunities in food and pharmaceutical sectors with Chinese companies    Riyadh's Sports Boulevard receives Platinum ActiveScore certifications    ImpaQ: Riyadh to host first Impact Makers Forum in December    Saudi Arabia ranks 12th globally in international visitor spending in 2023    Saudi Red Crescent air ambulance rescues injured camel herder in Qassim desert    Saudi Arabia refutes claims of rising worker fatalities, highlighting low work-related death rates    US says around 8,000 troops from North Korea are stationed in Russia's Kursk region    Spain mourns as death toll passes 150 in catastrophic floods    Seven killed in Israel in deadliest Hezbollah rocket strikes in months    Rapper Young Thug released from US jail after guilty plea on gang charges    Cyclists on phones face jail under Japan's new traffic laws    Hidden sugars in Asia's baby food spark concerns    Saleh Al Shehri strike seals Al Ittihad's Sea Derby win over Al Ahli    HONOR unveils pre-order of the stunning HONOR MagicBook Art 14 Featuring an ultra-slim design, HONOR Eye Comfort Display and AI Cross-OS WorkStation    Derby Week makes its debut in the Roshn Saudi League    Al Nassr eliminated from King's Cup after a defeat to Al Taawoun    Teri Garr, Young Frankenstein and Tootsie star, dies at 79    Indonesia Days event celebrates cultural diversity at Al Suwaidi Park    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Muted Eid celebrations for millions of Nigerian Muslims    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Credit card fraud increasing
By Fouzia Khan
Published in The Saudi Gazette on 10 - 10 - 2009

As international financial transactions are increasingly based on plastic rather than cash, the security of those using credit cards is being breached and fraud is on the rise. Saudi police recently arrested a group of people involved in fraudulent credit card transactions, a phenomenon which is common in western countries and in other parts of the world.
Saudi Gazette spoke to some people whose credit card numbers were used by fraudsters. Abu Faisal an expatriate became a victim of credit card fraud when he went to the UK recently for his vacation.
Upon his return to the Kingdom, he was shocked to receive a credit card bill for over SR15,000 for items purchased in the Philippines, Malaysia and Thailand, even though he has never visited those countries.
“I immediately contacted my bank which blocked my card and asked me to send a letter with the credit card bills to the bank's fraud department for investigation,” said Abu Faisal. “The difficulty is that until this problem is solved, the bank will debit the minimum amount for payment every month from my account, and as the entire amount is not being paid, a late payment fee and interest will be added for the next month. Even though this is not my fault, I will have to bear it,” he explained .
Another credit card holder Sami Ahmed said that his bank has canceled and replaced his Visa credit card three times already as someone in another country has tried to purchase items on the Internet using his credit card.
“All credit cards should be made like those in the UK which contain a smart chip like a sim card which is controlled by a secret pin number, which only the customer knows. This will help reduce fraud to a certain extent,” said Ahmed Malik, a British visitor to the Kingdom.
Saudi Gazette asked Thamer K. Al-Mashari, manager of the credit card department at the Saudi British Bank, how such fraud can take place, and he said that fraudsters often obtain the card number through employees.
“Also when people use their credit card on the Internet, hackers may be able to get it and sometimes fake websites are created to attempt to collect credit card numbers,” Al-Mashari explained.
“Although this is common in some parts of the world, in Saudi Arabia we have monitoring systems and if any suspicious transaction is noted, we block the card immediately,” he said.


Clic here to read the story from its source.