Banking clients urged to exercise caution using cards

Pretoria News Tuesday 09 September 2008, Page 5

THANDI SKADE

Credit and debit card holders are urged to keep a closer eye on their cards as the South African Banking Risk Information Centre (Sabric) has recorded a 57% increase in credit and debit card fraud in the first quarter of this year alone.
According to head of commercial crime at Sabric, Susan Potgieter, fraudsters are becoming more sophisticated in their operations. Counterfeit card fraud is the current trend, far exceeding the cases reported of card fraud resulting from a lost or stolen card.
Constable Botshelo Mothutsane, a Rustenburg police spokesperson, confirmed this trend, reporting that on the weekend of August 29 - 31 this year, 4o fewer than 45 cases of card theft were reported to the police. Fraudsters are increasingly using
hi-tech electronic equipment to access card details of clients.
For example, they use a skimming device, a small, inconspicuous device that reads a .card's magnetic strip. This provides the fraudster with a card holder's particulars, including their PIN number, card number, account number and bank balance in addition, the device can store the details of up 2000 cards. The device can be used while a customer carries out a transaction at an ATM.
Mothusane said the station had been inundated with reports of credit and debit card theft where criminals were using skimmers to access PIN numbers from debit cards. He urged card holders to be extra vigilant with their cards.