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Industrial Bank Offers Cardholders Four Tips against Risks of Fraud Hidden in Internet Payment

As risks of fraud are hidden in internet payment, how can we see them through?

A few days ago, Miss Li, a holder of Industrial Bank (IB) credit card in Shanghai, bought a set of cosmetics with her credit card at a shopping website not known to her, with the recommendation of a net friend of a forum. However, when she received the short message on the transaction, she was totally stunned. The consumption of RMB 500 clearly indicated on that website became one of more than RMB 2,000 unexpectedly.

While Miss Li was wondering, her phone rang suddenly, and it was a call from IB Credit Card Center: “Hello, Miss Li. Was the product worth more than RMB 2,000 that was bought at a shopping website just now done by yourself?” Miss Li confirmed the product, but denied the amount of consumption. After carefully listening to the description of Miss Li, the officer of IB responsible for monitoring risks told her that she might have encountered internet fraud and activated transaction protection for her credit card at the earliest possible time, with a view to preventing more losses.

After investigation, frauds induced Miss Li to have deals at a phishing website through the forum, then intercepted her shopping information, and swiped her credit card in the form of internet transaction by making use of such information to conduct fraudulency. After the transaction happened, IB Credit Card Center immediately contacted the acquiring institution and the merchant. As the product was not consigned and delivered yet, the transaction was successfully headed off. Thus, the losses of Miss Li were also recovered timely.

“If the bank did not intervene with payment timely, I would spend much undeserved money!” She told the reporter.

As learnt by the reporter, IB Credit Card Center has always adhered to the tenet of “convenient consumption and secured payment” for years. Equipped with advanced anti-fraudulent transaction system in the industry, the center monitors every abnormal transaction closely, providing customers with trustworthy card security protection.

In the interview, IB Credit Card Center reminded users to pay attention to card security and offered four tips against fraud:

First, any act asking for SMS password is fraud. SMS password is a 6-digit number that a bank or a payment institution sends to a cardholder by short message after the creation of a consumption order and it is a one-off password for internet transaction. If it is known by the fraud, funds in one’s credit card are at risk.

Second, don’t believe any call or short message from unknown sources easily. It’s better to miss one than to mistake one. All frauds will make detailed preparation before fraudulency. They can even bring out the previous trading behaviors and payment information of cardholders accurately, and have procedure ready for various possible questions raised by cardholders. Upon any bad news that you are told by a call or short message from unknown sources, don’t rush to take any action. It’s better to miss one than to mistake one. If you are worrying about the situation, don’t call the phone number given in the short message. It is recommended to check the issue via official customer service hotline.

Third, be cautious against the so-called “Security Center” or “Certification Center”. Sometimes, the frauds may send the link of so-called “Security Center” or “Certification Center” to cardholders via QQ, short message or other communication tools, asking to fill in required information to receive refunded money. In fact, these are often false websites of high simulation, and some even pretend to use logos of famous enterprises. After cardholders enter information on such websites, the frauds will make use of such information for card swiping.

Fourth, call the official customer service hotline of the issuing bank immediately after discovering a fraud. Once you discover that your credit card has been swiped by unknown source, call official customer service hotline of the issuing bank printed on the credit card to report the situation and freeze your card. The earlier you call, the more possible it is to prevent further losses effectively.