Advertisement

Credit Card Fraud

281 Views  ⚫  Asked 2 Years Ago
asked on Mar 10, 2016 at 00:20
by   smlye
Hi there,
I need some legal advise. I applied for a credit card March 2011 and I receive a call in April 2011 from the bank's Fraud department to verify whether I made any online transaction on that day and the day before. I inform them that I didn't and inform them to cancel the card and the transaction. The fraud officer inform me the transactions made and the merchant name.

After receiving the subsequent replacement card, my card was once again used in a fraudulent transaction. I have 3 replacements cards - and all three has the same issue. My online banking was also hacked. I have been working closely with the bank's fraud officer and he supplied me the delivery order that was given to him by the merchant which have the fraudster's address and phone number. At that moment, I was in the impression that the bank is working closely with the police to investigate and to apprehend the fraudster. And that my case was closed - I.e. that the fraudulent transactions made using my credit card was removed from my account. One of the indication was that the bank removed the fraudulent amount - indicated in my statement. A few months later, the bank credited the fraudulent amount into my account. I was shocked and followed up with the bank. They mentioned that since it was a 3D transaction - I am liable since I am the only person that knows the password. I am not liable for the other fraudulent transaction on my replacement card since those was not 3D transactions.

I approached FMB and after the mediation session with the bank, FMB ruled that I am liable to pay the bank 100% since it was a 3d transaction. I was utterly shocked due to the fact that they ignored the following facts that I presented:
1. I received a call from the bank and I strongly inform them to cancel the transaction. The respond from the bank was positive. Therefore, I was under the impression that they are canceling the transaction. If they were to told me they can't cancel it, I would go all out to inform the merchant to hold the delivery.
2. All the replacement cards I received (3 replacements) was used in fraudulent transactions. And that my online banking was compromised and there were other attempts after that event.
3.  I have fully cooperated with the bank fraud officer during the entire incident.

Since FMB have made a decision and mentioned that here in no room for appeal, i was informed by BNM to take this up to court. I was informed that it is going to be expensive - the question I have is, whether I have a chance against the bank - esp. for negligence and  failed to uphold the trust i have given to them as their customer. Besides that, where can I get help...

Any advice will be very helpful...

Yours sincerely,
Serena
0 had this question
Me Too
0 favorites
Favorite
[ share ]
3 Answers

answered on Mar 10, 2016 at 18:14
by   vkpc
How much is the amount in dispute?
Why you keep taking replacement cards when you know they are prone to fraud?
Did you make a police report on the fraud transactions?
Bank name?
0 found this helpful
Helpful

answered on Mar 13, 2016 at 23:23
by   smlye
Hi vkpc,

Below are my replies.
Any advice moving forward?

How much is the amount in dispute?
--> The fraud amount was around RM10k+ (two transactions; made within two days). The bank was charged interest and now it's amounting to around RM22k.

Why you keep taking replacement cards when you know they are prone to fraud?
--> To be honest, I thought the first fraud was an isolated case and trusted the bank is implementing the necessary to protect future frauds. This trust is based on the experience I had where Citibank informed me that there was a petrol fraud on my Citibank card. There were no issue after that incident with the card. I was expecting the same with CIMB.

Did you make a police report on the fraud transactions?
--> Yes I did.

Bank name?
--> CIMB.

Best Regards,
Serena
0 found this helpful
Helpful

answered on Mar 18, 2016 at 04:52
by   vkpc
Do you feel that FMB made a wrong decision?
If yes, how or what made FMB arrive at the wrong decision?

If you can answer the above questions clearly, then you can proceed to Court.
0 found this helpful
Helpful

Your Answer





By posting your answer, you agree to the privacy policy, cookie policy and terms of service.