Jun 6, 2010
Card fraudsters at W Cup
<!-- end left side bar -->
Jean-Pierre was caught in a clever scheme that let criminals copy his card's magnetic strip and his PIN code, but sometimes a card's details can simply be copied while customers make payments at a restaurant or a car hire.
SOUTH AFRICA - JEAN-PIERRE arrived on his South African holiday, withdrew some money from a cash machine, and hours later received a call from his bank to say that 300 euros (S$507) had suddenly been charged to him. It's a scenario that banking officials worry could repeat itself throughout the four-week World Cup, which like any major global event, is an irresistible target for fraudsters. 'My bank called on my cell phone to ask where I was, because my account had been debited four times on the same day,' the 59-year-old Frenchman said.
'I immediately opposed the charges, but if my bank adviser hadn't been so attentive, that party would have continued until the end of my stay.' About 300,000 foreign visitors are expected at the World Cup, bringing a boost in spending that has 'the potential of presenting criminals with more opportunities to commit fraud', said the South African Banking Risk Information Centre. Jean-Pierre was caught in a clever scheme that let criminals copy his card's magnetic strip and his PIN code, but sometimes a card's details can simply be copied while customers make payments at a restaurant or a car hire.
Unsolicited offers that seem too good to be true often are. Fifa has warned against emails and text messages promising match tickets or lottery winnings in exchange for a user's bank details. Magnetic strips are widely used in Africa's biggest economy, though banks are replacing those cards with more secure models to prevent credit card fraud. During the World Cup, banks will watch transactions more closely for any suspicious purchases. Customers are urged to inform their banks if they plan to travel to South Africa. -- AFP
<!-- story content : end -->
