Your cards or chequebook have been stolen or faked and you notice unfamiliar transactions on your statement, or you find out that your overdraft limit is suddenly exceeded. Are you a victim of bank card or cheque fraud? For example, a fraudster pays you for goods or services using a stolen cheque or deposits a fraudulent or stolen cheque into your account or steals individual cheques or a cheque book from you. Cheque fraudĬheque fraud operates in a number of ways. If the fraudster can impersonate you, he or she will open accounts in your name and then defraud them. The fraudster will gain access to your account after getting through security online, at a bank branch or call centre, or by teaming up with someone inside the organisation that holds your account. Identity fraudĪ fraudster may have stolen enough information about your identity and financial affairs to take over your account or to impersonate you. For example, if you have moved address recently and not had your mail redirected or if your mail is delivered to a communal mailbox. A new or replacement card may also be stolen before you receive it. In this case, fraudsters use your card before you are able to report it as lost or stolen. For example, when shopping online buying goods by telephone or mail order or using cardholder activated terminals, such as ticket machines. The fraudster may also use this information in transactions where the card doesn’t have to be physically seen by the retailer or merchant. The fraudster then uses this information to carry out fraudulent transactions in countries where chip and PIN technology is not supported. Counterfeit cardsĪ fraudster counterfeits your bank card by using a device to capture the card and account information embedded in your card’s magnetic strip. The fraudster then uses this information to take money from your account in a shop, online or from an ATM. Here are some of the ways a fraudster could steal money from you: ATM (cash machine) fraudĪ fraudster uses a device to capture your card information as you are withdrawing money from an ATM. You’ll usually notice this by seeing unfamiliar transactions on your statements, or suddenly finding that you’ve exceeded your overdraft limit or credit limit and your card is refused when you try to make a purchase. Bank card and cheque fraud happens when criminals steal your cards or chequebook and gain access to funds in your account.Ĭriminals steal your bank cards or cheque book or they obtain your card or account details, allowing them to take money from your account or run up credit in your name.
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