Your debit or credit card can be likened to a key that gives you 24-hour access into the vault that stores your money. Fraudsters will try their best to steal your card or the information stored on your card to gain access to your hard-earned cash.
To protect you from potential fraudulent use of your card, we monitor all card transactions. It is important that we always have your up to date contact details so that we can contact you in case we suspect fraudulent activity or notice unusual spending patterns on your card account.
If you are planning to travel abroad, we ask that you advise us of your travel plans and contact numbers for us to reach you to avoid your card from being unnecessarily blocked and transactions being declined.
This type of fraud occurs when a lost or stolen card is used by a fraudster posing as you. A fraudster with access to your card but no PIN may make purchases at retail outlets where the merchant’s POS machine requires only signature authorisation.
A counterfeit card can be a fake card or a valid one that’s been altered or recoded. Most cases involve skimming, where the data on your card’s magnetic strip is electronically copied using a skimming device on to another card without your knowledge. This copy of your card, a counterfeit card, is used to defraud you.
This is a type of fraud that is on the rise in Seychelles as more cardholders take their cards abroad and use it to buy goods and services online. CNP fraud occurs when fraudsters steal your card details and use them to pay for purchases (usually of high value items) over the internet or by phone, fax or email.
