Card Fraud


Counterfeit card fraud is perpetrated with a card that has been illegally manufactured using information stolen from the magnetic strip of a genuinely issued card. In some instances, Lost, Stolen and old cards are re-encoded with information stolen from a genuine card for purposes of committing counterfeit card fraud. The information needed for counterfeit card fraud is usually stolen through card skimming.


CNP fraud is a fraudulent transaction where neither the card nor the cardholder is present whilst conducting the transactions.


Lost card fraud is a fraudulent transaction that occurred on a valid issued card after a cardholder lost his/her card and is no longer in possession of the card.


Stolen card fraud refers to fraud that results from a fraudulent transaction that is performed on a validly issued card that was stolen from a legitimate owner.


Account Takeover Fraud takes place when an existing account is taken over by someone posing as the genuine account holder, who then uses the account for their own benefit whilst pretending to be the genuine account holder. The common denominator for both Account Takeover Fraud and False Application fraud is the fraudsters’ access to personal information of their victims. In many instances the criminal will obtain personal or client specific information and pretend to be the client in order to apply for a replacement card, which is then, once received, used fraudulently.


Not Received Issued Card Fraud relates to the interception of genuinely issued cards before they reach the authentic customers. Impostors then use intercepted cards fraudulently.


  • Review your account statements on a timely basis; query disputed transactions with your Bank immediately.
  • When shopping online, only place orders with your card on a secure website.
  • Do not send e-mails that quote your card number and expiry date.
  • Ensure that you get your own card back after every purchase.
  • Never write down your PIN or disclose it to anyone.
  • Report lost and stolen cards immediately.
  • Destroy your credit card receipts before discarding them.
  • Never let the card out of your sight when making payments.
  • Sign your card on the signature panel as soon as you receive it to stop anyone else from taking ownership or trying to use it.
  • Your credit card is not transferable. Only the person whose name appears on the front of the card is authorised to use it. This is the same with your debit cards, even though they don’t contain your name on the front of the card.
  • If you have a debit, cheque and credit card, don’t choose the same PIN for all of them,  so that if you lose one, the others will still be safe.
  • Chip Credit cards also require a PIN for transactions at points of sale (paying for goods/services).
  • Protect your cards as if they were cash. Never let them out of your sight and ensure that you get them back after every purchase.
  • Always check transaction slips for correct purchase amounts before you sign them.
  • Keep your transaction slips and check them against your statement to spot any suspicious transactions and query them immediately.
  • Make a list of all your cards and their numbers and store it in a safe place.
  • While transacting always keep an eye on the ATM Card slot to ensure that your card is not taken out, skimmed and replaced without your knowledge.
  • Should your card be retained by an ATM, contact your Bank and block your card before you leave the ATM.
  • Subscribe to your Bank's SMS notification services; this will inform you of any transactional activity on your account.


  • Hold the card until the transaction is completed.  Ensure that the card security features are present.
  • Compare the cardholder’s signature on the card to that on the sales voucher.
  • Phone for authorisation if requested to do so by the point of sale device.
  • Make an imprint of the card in the case of a manual transaction.