Getting some scammy transactions on your credit card statement which you know weren’t performed by you?
You’re not alone.
Many Singaporeans have complained about getting charged for small sums on their credit cards and debit cards.
What’s puzzling is how this could have been carried out as there is usually a 2FA protocol for online transactions in which the cardholder has to “double confirm” the legitimacy of the transaction using a bank token or their mobile phone.
One Reddit user, KratkyInMilkJugs, posted screenshots of such unauthorised transactions, saying:
“Just found out my bank account got many unauthorized transactions. Called my bank and found out my Visa, which never left home, never been charged on, never used for online purchases, etc, was compromised.
Be careful everyone, double check your bank accounts if you have debit cards, I was lucky to actually look at this one, since the account is used for bill payments only, I rarely checked it.
UOB doesn’t seem to care about their customers money, since I bet they’ll send me an OTP if it were my UOB one credit card. I am going to cancel all my debit cards, and maybe move my money out of the bank into a safer one. I’m not going to pay $5 for an ATM card to fix the banks mistake.”
The problem doesn’t appear to be confined to UOB – customers of other major banks here such as OCBC and DBS have reported similar unauthorised transactions.
This has left customers wondering if the fault lies with bank lapses or systemic problems with 2FA.
If you are aware of an unauthorised transaction made on your credit card or debit card, you should contact your bank straight away.
That way, the bank can verify the authenticity of the transaction and possibly initiate a clawback of your money.