04.26.10

Seychelles Bankers’ Association warn of credit card fraud

Posted in Financial Services, Offshore Banking, Seychelles banking at 3:17 pm by Robert Klien

A number of incidents have taken place where the owners of bank cards have lost their money after requesting its transfer over the phone. That is why the Seychelles Bankers’ Association warned customers to be careful regarding this.

Mohinder Singh Phogat, The chairman of the Seychelles Bankers’ Association, said that there are types of cards the owners of which can ask through e-mail or telephone for transferring money but, in the absence of the card, they give their card and pin numbers over the phone.

There have been cases when fraudsters have stolen cards and requested such transactions in order to contact recipients of the money asking them to transfer the money elsewhere. In this process the money gets lost. Phogat said that experienced operators like major hotels are familiar with the checks necessary to avoid such fraud while smaller establishments are sometimes likely to become victims of the fraud.

The Seychelles Bankers’ Association is urging bank customers to adhere to guidelines that are given by the banks with a view to avoid being defrauded in scams.

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