Business | Banking
Fraudulent activities involving local accounts alarm banks
Following a countrywide increase in card fraud, Lloyds TSB Middle East, as part of a coordinated approach with other banks in the UAE, has urged its customers to adopt precautionary measures against fraud and to change the pin numbers of their debit cards. This measure has been recommended to avoid potential losses in customer accounts through fraudulent activity.
- Staff Report
- Published: 13:36 September 11, 2008
Dubai: Following a countrywide increase in card fraud, Lloyds TSB Middle East, as part of a coordinated approach with other banks in the UAE, has urged its customers to adopt precautionary measures against fraud and to change the pin numbers of their debit cards. This measure has been recommended to avoid potential losses in customer accounts through fraudulent activity.
"Whilst only a relatively small number of our customers have been affected by fraudulent activity, the rise in instances of card related fraud across the UAE is a concern, and we urge our customers to take precautions. We advise that customers change their pin numbers immediately. Customers should also be extra vigilant when using ATMs by protecting their PIN numbers and contacting the relevant bank should anything appear unusual at an ATM machine," the bank said in a statement.
Lloyds TSB Middle East customers can change their PIN numbers at any Lloyds TSB ATM in Dubai. This action only applies to local accounts.
Any customer who suspects that their account has been debited fraudulently should contact the bank immediately. Fraudulent transactions will always be re-credited.
"Furthermore, as we have taken the preventative measure to halt some card activity in specific countries, we recommend that customers who are planning to travel abroad consult us in advance of their trip so we can provide advice if necessary," the statement said.
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