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UAE banks hit by wave of card fraud
by This email address is being protected from spam bots, you need Javascript enabled to view it on Tuesday, 9 September 2008
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Results 1 to 11 of 11
Posted on Thursday, 18 September 2008
ATM Frauds in UAE
Posted by anonymous at 13:24 UAE time
My husband and I have been personally hit by this fraud and lost money from our account. I am a little confused as to how it has come about as one of your articles mentions hacking into the banking system and another talks today of them copying our cards at ATM machines.
Our situation is we live in the UAE and use our card to access money from our bank account in New Zealand. Our money was drawn out of our NZ account by someone using a fake card and our pin number in the UK. We know of 6 other people in our company alone (nothing to do with the US Embassy) who have had money stolen direct from our New Zealand accounts or by goods bought on their credit cards in other countries such as Canada and Australia. The only thing we have in common is that we all live in Abu Dhabi and use the ATM's here. We know of others outside our company that have also been hit, I would say there are thousands by now.
We are now stuck without cash as we have no intention to use our cards even with new pin numbers as we do not know if this situation has been resolved. We stopped our cards and within the last 24 hours we have been informed by our bank in New Zealand (Westpac) that someone again tried to withdraw from our account. The attempt failed as we had already stopped our cards.
This is a very worrying situation and we would like to hear more about how the problem occured and how it is being resolved and when it will be safe to use our cards again?
Anonymous reader
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Posted on Thursday, 11 September 2008
UAE BANKS HIT BY WAVE OF CARD FRAUD
Posted by RAJKUMAR BHATIA at 17:11 UAE time
its right time for the Banks to understand and adopt a suitable policy to protect their customer's interest, just floating the cards in the market without having a proper strategy/security measures may neither bring a positive result to the operative banks nor beneficial to their valuable customers. We all know that Banks taking high risk on issuing the cards but do have high return from this operations. Some banks are investing major part of income to protect fraud but others are just worrying to multiply their income. At this crucial stage UAE CENTRAL BANK intervene/introducing restrictions to card issuing Banks may save the Banks/card holders losing large sums in the hands of fraudsters
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Posted on Wednesday, 10 September 2008
ATM Fraud
Posted by Mike - Abu Dahbi at 18:30 UAE time
Since I have been a victim of this fraud, not only have I not received a credit to my account (as bank spokesman) I now have no access to my money until the cards are replaced, combined with shortened open hours during Ramadan
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ATM frauds at HSBC
Posted by Manoj at 15:54 UAE time
I writing this email after reading some of the above comments regarding the poor service of HSBC. I am based in Bahrain and I feel that HSBC is the worst bank in Bahrain in terms of service offered. Their charges are also quite high when compared to other banks. One of the Bank's officers told me that the customers are having the privilage of dealing with an international Bank, so they better pay the high charges.
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What SMS?
Posted by Samer at 14:22 UAE time
I haven't recieved any SMS from HSBC... does that mean i am safe or should I be worried?
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mine too!
Posted by Gibson at 13:24 UAE time
I Lost a sum from my account in Standard Chartard...I don't think its to do with just HSBC. Seems it was withdrawn from Philipines. Seems its been happening all over (according to other reports), so its advisable to withdraw cash directly from your banks as a precaution, block your card temporarily, till this issue is sorted.
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HSBC fault
Posted by Medhat at 10:29 UAE time
HSBC should have issued ATM cards with smart sim chip technology added on, like respectable banks do so, for example ADCB bank. But it is not unusual to HSBC, always high charges for poor and stingy service.
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Iris Bio Metric Needed At ATM
Posted by bankobserver at 10:28 UAE time
Perhaps the banks need to adopt a biometric system that is fool proof such as an Iris scan of genuine customers to verify their identity. This has been installed in Cairo Amman Bank in Jordan already and is proving to be very successful. It also drives the UAE DNRD initiative to catch Illegal immigrants and banned persons, having caught over 260,000 people in 4 years.
The banking application will eliminate fraud, identity theft, streamline the transaction and reduce risk overall.
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HSBC is behined
Posted by Amar at 07:06 UAE time
as HSBC client , I have to say their services are the worst and becoming even worse. now it is a security issue. I wonder why other banks are not facing as much problems with their IT and Security systems as HSBC.
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Posted on Tuesday, 9 September 2008
Lost Money
Posted by Shofil at 19:17 UAE time
I've lost AED 9,611/- from my current account of Citi bank. So take care.
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HSBC
Posted by Bill Banks at 16:40 UAE time
Er, this is slightly misleading from HSBC. What they seemed to have done is deactivated ATM cards to force you to go to the bank to resolve the matter.
I have not received any SMS from them - just an ATM card that does not now work.
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