Bankers Association alerts on card fraud

05 Jul 2013 06:00

 

The Bankers Association of Namibia (BAN) and the Payment Association of Namibia (PAN) express their concern about the increase of incidences of card fraud in the country.

BAN embarked on this campaign to inform the public about card fraud techniques and provide tips on how the public can protect themselves from card fraud.

“Card fraud is a reality in Namibia and although prevalent during the year, incidences of card fraud are at its highest more especially at the end or beginning of every month when people access ATMs to get their money,” said Mpumzi Pupuma, Chairman of the Bankers Association of Namibia.

Pupuma added that it is therefore important that the public is informed on the various card fraud techniques and take note of the tips on how to keep their cards safe when they transact with their cards at POS devices or at ATMs, to prevent them from becoming victims of card fraud.

“No person will let his/her cash out of their sight and neither should anyone ever let their cards out of their sight, think of your bank cards as cash and protect your cards with the same vigour as you would your cash advised”, he said

According to the association, Card fraud occurs when a person conducts a transaction at an ATM or a Point-of-Sale device (POS) and fraudsters use the opportunity to obtain the information on the card of the user, as well as his personal identification number (PIN).

The fraudster needs both the information on the card as well as the PIN to get access to the funds in an account.

BAN urges the public to contact the bank without delay if they suspect signs of fraud and also have their card stopped immediately if lost if stolen.

Customers are also urged to save the number of their bank’s 24-Hour Customer Contact Centre on their mobile phones, to ensure that they have it when they need it.