Credit card fraud: safety tips every cardholder should know

New cardholders are frequent targets of fraud. A few clear safety rules can prevent most losses. Share these tips with every customer whose card is approved.

Common frauds

• Fake bank calls: callers claim to be from the bank, offering limit increases, reward redemptions or "KYC updates", and ask for OTPs or card details.
• Phishing links: messages with links to fake websites that steal card details.
• Fake reward or cashback offers: "Your points are expiring, click to redeem."
• Skimming: devices at ATMs or shops copying card data.
• Remote access scams: callers ask the victim to install an app that lets them control the phone.

Golden rules

1. 1Never share OTP, CVV, PIN or full card number with anyone.
2. 2Banks don't ask for these on calls, SMS or email.
3. 3Don't click links in unexpected messages; use the official bank app.
4. 4Don't install apps at a caller's request.
5. 5Enable transaction alerts by SMS and email.

Use card controls

Most bank apps let customers:

• Turn international usage on or off
• Turn online transactions on or off
• Set transaction limits
• Block the card instantly

Encourage customers to keep international and contactless usage off unless needed.

Safe online shopping

• Shop on trusted websites.
• Check for secure payment pages.
• Use virtual cards or tokenised payments where available.
• Avoid saving card details on unfamiliar sites.

If fraud happens

1. 1Block the card immediately through the app or helpline.
2. 2Report the transaction to the bank and request a dispute.
3. 3Report cyber fraud through official government channels and helplines.
4. 4Keep evidence: messages, call times, screenshots.
5. 5Change passwords for banking apps and email.

Prompt reporting matters; banks and regulators have rules about customer liability that often depend on how quickly fraud is reported.

Questions customers ask

"The caller knew my name and card's last digits. Isn't it the bank?"

Fraudsters often have partial data. Knowledge of some details doesn't prove identity. Hang up and call the official number.

"I received an OTP I didn't request. What should I do?"

Don't share it with anyone. It may mean someone is trying to use your details; check your account and inform the bank.

"Is contactless payment safe?"

It has limits per transaction and can be turned off in the app if preferred.

Key points to remember

• OTP, CVV and PIN are never to be shared.
• Use official apps; ignore unexpected links.
• Turn on alerts and use card controls.
• Block and report fraud immediately.
• Partial details from a caller prove nothing.

Summary

Fraud awareness protects customers and their trust in cards. Make these tips part of every card conversation. Explore more in money safety and fraud awareness.

A real-world style example

A cardholder receives a call: "Your reward points expire today. We'll send an OTP to transfer them." The caller knows her name. She remembers her referral partner's advice, hangs up and opens the official bank app. There are no expiring points. She blocks the caller and reports the number. A single remembered rule saved her money.

Teach customers to recognise urgency

Almost every scam creates urgency: "today only", "account will be blocked", "points will expire". Teach customers that urgency itself is a warning sign, and that genuine banks give time and official channels to resolve issues.