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Thread: Unaurthorise Debit Tranasction

  1. #21

    Default Re: Unaurthorise Debit Tranasction

    Quote Originally Posted by dreamerz View Post
    definitely ntg to do with spy/mail ware as im using mac with hardware firewall...and i only use my mac within my network for secure transactions......i dun open mail attachment as well...so no way its from online...n btw how to file a report to MAS?
    Eh, ok, let me explain abit more.

    For your case, u can actually go to two idependent institutions namely, FIDREC & MAS.

    FIDREC is like small claims tribunal(SCT) in the banking industry. It helps u to get your $$ back. But at a cost, $250 per claim if u do not succeed. $50 if u succeed.

    MAS, I think u know what they do lah.... MAS cannot ask DBS to pay u back the money or waive the charge. A report to MAS in this case is to find if there are any breach or protocol, rules and regulations.

    The most ambiguous point here is that the CSO might not actually have informed the bank of such fraudulent/unauthorized charge to your acc at the earilest point of time. Or if DBS was indeed informed by the CSO, they still approved the charge.

    I'm not too sure if there is any breach of protocol/rules/regulations in this case as i do not come from the industry.

    However, if indeed there was a breach of protocol/rules/regulations, then u might(at the bank's discretion) get the fraudulent charges waived.

    I would suggest u lodge a report with MAS first(without incurring any cost), and wait.
    If no breach of protocol/rules/regulations is found and DBS made firm their stand on not refunding u after all three transactions are cleared, then i suggest u go to FIDREC.

    FIDREC's website: http://www.fidrec.com.sg/website/index.html
    MAS's complaint website (scroll all the way to the bottom): http://www.moneysense.gov.sg/dispute...esolution.html

    Hope it helps and good luck

  2. #22

    Default Re: Unaurthorise Debit Tranasction

    thx evo, i jus make a report to MAS...
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  3. #23

    Default Re: Unaurthorise Debit Tranasction

    does this apply to singapore? coz this is US regulation

    http://www.fdic.gov/regulations/laws...html#6500205.6
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  4. #24

    Default Re: Unaurthorise Debit Tranasction

    Quote Originally Posted by dreamerz View Post
    does this apply to singapore? coz this is US regulation

    http://www.fdic.gov/regulations/laws...html#6500205.6
    I dunno.... Maybe u wanna try n ask Vince instead... He might know.... Alternatively, wait for MAS's reply. They will tell u if there is any breach of protocol/rules/regulations.

  5. #25
    vince123123
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    Default Re: Unaurthorise Debit Tranasction

    US regulations do not apply in Singapore; without further research, I don't know if there's a corresponding obligation under Singapore law. I'd say however that in Singapore, consumer rights are really at a minimum, so I won't be surprised if there is no coresponding obligation.

    That said, I still stick to my previous recommendation, in view of the relatively small sum involved. I'd say that the bank is the best place to get it fixed. MAS and all that is to be used if the bank tries to be funny.

  6. #26

    Default Re: Unaurthorise Debit Tranasction

    Quote Originally Posted by evo-lution View Post
    I dunno.... Maybe u wanna try n ask Vince instead... He might know.... Alternatively, wait for MAS's reply. They will tell u if there is any breach of protocol/rules/regulations.
    Quote Originally Posted by vince123123 View Post
    US regulations do not apply in Singapore; without further research, I don't know if there's a corresponding obligation under Singapore law. I'd say however that in Singapore, consumer rights are really at a minimum, so I won't be surprised if there is no coresponding obligation.

    That said, I still stick to my previous recommendation, in view of the relatively small sum involved. I'd say that the bank is the best place to get it fixed. MAS and all that is to be used if the bank tries to be funny.
    thks guys, DBS fraud control branch just called me, indicating that i need to wait for the next transaction to be posted b4 i file for dispute as the conversion rate differ. was also told as soon as i submit the dispute form, within 1 week i should b able to get bk a refund based on my case.
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  7. #27

    Default Re: Unaurthorise Debit Tranasction

    Quote Originally Posted by dreamerz View Post
    thks guys, DBS fraud control branch just called me, indicating that i need to wait for the next transaction to be posted b4 i file for dispute as the conversion rate differ. was also told as soon as i submit the dispute form, within 1 week i should b able to get bk a refund based on my case.
    Congrats! there your problem is solved! Well, not really solved, but at least got a reassurance by DBS...

    In the meantime, spend wisely for the next two weeks or so....

    And erm, do remember to seperate bank accounts in future!

  8. #28
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    Default Re: Unaurthorise Debit Tranasction

    Quote Originally Posted by dreamerz View Post
    thks guys, DBS fraud control branch just called me, indicating that i need to wait for the next transaction to be posted b4 i file for dispute as the conversion rate differ. was also told as soon as i submit the dispute form, within 1 week i should b able to get bk a refund based on my case.
    Hope you recover your money soon mate. Sorry to hear about your plight with the debit card.

    BTW, do you still remember the place or online site that you used your debit card to pay for? I do feel a little insecure sometimes when using my debit to shop online but so far my transaction has only been with BH Photo Video.

    Do let us know the outcome ya and stay cool mate. Cheers!

  9. #29

    Default Re: Unaurthorise Debit Tranasction

    Quote Originally Posted by evo-lution View Post
    Congrats! there your problem is solved! Well, not really solved, but at least got a reassurance by DBS...

    In the meantime, spend wisely for the next two weeks or so....

    And erm, do remember to seperate bank accounts in future!
    yup will b doing so, n will b applying citibank clear card for all my online purchases, debit card think i will b canceling.
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  10. #30

    Default Re: Unaurthorise Debit Tranasction

    Quote Originally Posted by hazmee View Post
    Hope you recover your money soon mate. Sorry to hear about your plight with the debit card.

    BTW, do you still remember the place or online site that you used your debit card to pay for? I do feel a little insecure sometimes when using my debit to shop online but so far my transaction has only been with BH Photo Video.

    Do let us know the outcome ya and stay cool mate. Cheers!
    recent 2 online transaction was, uni application in feb09 and booking of airline tix in dec08, i used it once in HK, but i saw the lady swipe my card n ntg suspicious, i used it quite often in sgp, as it serve as my nets card as well, but mainly at atm...i oso have no idea how the hell was my card cloned...
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  11. #31

    Default Re: Unaurthorise Debit Tranasction

    Quote Originally Posted by dreamerz View Post
    yup will b doing so, n will b applying citibank clear card for all my online purchases, debit card think i will b canceling.
    Eh, juz a word of advice, Citi clear card have very high interest rates as compared to other cards requiring minimum income.

    And even thou, the credit limit is $500, after all, its a credit line. Failure to keep up with your bills will affect your credibility when applying for loans of any sorts in future. FYI, the credit bureau keeps track of stuff like tht. N banks do check before approving loans. So, don't get urself into such trouble.

  12. #32

    Default Re: Unaurthorise Debit Tranasction

    Quote Originally Posted by evo-lution View Post
    Eh, juz a word of advice, Citi clear card have very high interest rates as compared to other cards requiring minimum income.

    And even thou, the credit limit is $500, after all, its a credit line. Failure to keep up with your bills will affect your credibility when applying for loans of any sorts in future. FYI, the credit bureau keeps track of stuff like tht. N banks do check before approving loans. So, don't get urself into such trouble.
    was oso thinking of opening a saving acc with citibank as well, so i can so call transfer easily to the credit card account when needed.
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  13. #33

    Default Re: Unaurthorise Debit Tranasction

    jus an update, MAS jus called me nt long ago, asking me what happen n what dbs told me, seems like they are investigating the case as well, but when the MAS officer heard tat its a paper based transaction at oversea n the card is with me, i think he was stunned with this fact...
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  14. #34

    Default Re: Unaurthorise Debit Tranasction

    Quote Originally Posted by dreamerz View Post
    jus an update, MAS jus called me nt long ago, asking me what happen n what dbs told me, seems like they are investigating the case as well, but when the MAS officer heard tat its a paper based transaction at oversea n the card is with me, i think he was stunned with this fact...
    Paper based? Signature based u mean??

    Actually, i think this is not really uncommon.... All along its common knowledge that there are all these credit card clonning syndicate around.... Or maybe the office is new bird?

    But nevertheless, its good that MAS actually stepped in.... They might be able to detect some loopholes alongside DBS and prehaps enhance security??

  15. #35

    Default Re: Unaurthorise Debit Tranasction

    ya signature based, problem is i nv lose my card nor did i go to the country involved in the transaction, tats y he is surprised i guess, althought in dec last yr i did went to HK n used my debit card once in giordano, but i was there when the lady swipe the card, ntg suspicios...so prob here is how the syndicate gotten hold of my card infomations?
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  16. #36
    Member whizzard's Avatar
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    Default Re: Unaurthorise Debit Tranasction

    There are other means for the syndicate to obtain your card details eg by tapping the phone line of the data centre which transmits the details of your transaction (there was a case in Malaysia some years ago). Think all these loopholes should more or less be covered by now, as the banks also learn from their mistakes. However, these syndicates are also well versed with technology and are always trying to find loopholes.

    I have personally experienced 2 instances where my credit cards (1 UOB, 1 Citibank) have somehow been cloned but the officers from these banks called me on time and I told them I was neither in Korea or Hong Kong (where the transactions were coming in). The transactions were duly reversed and the banks deactivated my old cards and sent me new cards.

    Even credit cards can be cloned. Best is to separate your main account from your operating account. That way, should you be a victim of fraud, you wont lose everything! As a matter of practise, I separate my banking accounts into operating account (the one I use for my regular expenses) and my deposit account (the one where I keep all my extra liquidity). Usage of credit cards at popular online stores (not to mention the smaller, unknown ones) eg Amazon, etc can also be subjected to risks as Amazon could be hacked, they could accidentally lose your customer data (there was a big case involving HSBC a few months earlier), etc.

    With today's technology, just exercise more caution and keep a regular watch over your bank account. Take care and I think your case will be resolved to your satisfaction. If not, just make more noise - the bank will back down if your case is really a genuine one. Good luck!

  17. #37

    Default Re: Unaurthorise Debit Tranasction

    Quote Originally Posted by dreamerz View Post
    definitely ntg to do with spy/mail ware as im using mac with hardware firewall...and i only use my mac within my network for secure transactions......i dun open mail attachment as well...so no way its from online...n btw how to file a report to MAS?
    Macs do have vulnerbilities. could have been an exploit thru ur web browser without ur knowledge.
    Chanxj
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  18. #38

    Default Re: Unaurthorise Debit Tranasction

    Quote Originally Posted by chanxj View Post
    Macs do have vulnerbilities. could have been an exploit thru ur web browser without ur knowledge.
    yup i noe, however if u are saying about all those spy/mail ware or trojan, im very sure my mac is free from any...as im a very caution user, if it was exploited thru mac loophole, this i would say it is time for mac to come out with a security patch...as now everyone is been affected by this loophole liao, as my mac is always up to date.
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  19. #39
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    Default Re: Unaurthorise Debit Tranasction

    It;s actually quite common now for banks to call when they detect an overseas transaction coming through your credit card to check if you are really overseas. Was suprised that DBS didn't do so.

    Well, all I can say is just becareful and do a thorough scan of your comptuter - Anti Virus + Spyware Checker. And if you're buying stuff online, use paypal.. safer.
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  20. #40

    Default Re: Unaurthorise Debit Tranasction

    Quote Originally Posted by relaxxjaxx View Post
    It;s actually quite common now for banks to call when they detect an overseas transaction coming through your credit card to check if you are really overseas. Was suprised that DBS didn't do so.

    Well, all I can say is just becareful and do a thorough scan of your comptuter - Anti Virus + Spyware Checker. And if you're buying stuff online, use paypal.. safer.
    checked already, there isnt any spyware or virus, paypal nt supported by airline booking, and paying for uni applications fee..
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