HELP!! My chip-based credit card's cloned.
Sigh...... why our BN so slow in discovering that everything under the sun can be cloned? Guess they have a lot of techie-knowledge catching up to do.
One of my chip-based credit card was cloned in June. So what? What's the big deal. The bank calls up and routinely rattles off to you that you won't be able to use your card for a week and to wait for the arrival of the new card. Like it's the norm and it happens all the time.
If you have lots auto-debit/billing instructions on your card, headache. Lots of cancelling and updating to be done. It's entirely up to you to decide whether to continue using it or cancel your card, take your pick.
The only security measure is still early fraud detection and deactivation of the cloned card by the issuing bank. Every card user has a spending pattern and it's the bank's responsibility to be on constant lookout for fraudulent and unusual changes in the pattern. Some banks call up the principle card holder whenever the charge exceeds a particular limit and interrogates you before the deal can go through. Even when the charge is made by the supplementary card holder.
Inform your bank to disallow all internet transactions if you do not intend to use your card online. And if you do occasionally do that, call up the bank and inform them to authorise the transaction within a said time frame and state the charge amount and to whom the charge is made out to prior to making the purchase. Have separate cards for various purposes like abc card for online use, def card for petrol and household bills and 123 card for shopping and dining. Makes detection and life easier.
So, what new ideas will our BN moot this time? Iris scanning? Finger-prints? Go watch more CSI lah.......
One of my chip-based credit card was cloned in June. So what? What's the big deal. The bank calls up and routinely rattles off to you that you won't be able to use your card for a week and to wait for the arrival of the new card. Like it's the norm and it happens all the time.
If you have lots auto-debit/billing instructions on your card, headache. Lots of cancelling and updating to be done. It's entirely up to you to decide whether to continue using it or cancel your card, take your pick.
The only security measure is still early fraud detection and deactivation of the cloned card by the issuing bank. Every card user has a spending pattern and it's the bank's responsibility to be on constant lookout for fraudulent and unusual changes in the pattern. Some banks call up the principle card holder whenever the charge exceeds a particular limit and interrogates you before the deal can go through. Even when the charge is made by the supplementary card holder.
Inform your bank to disallow all internet transactions if you do not intend to use your card online. And if you do occasionally do that, call up the bank and inform them to authorise the transaction within a said time frame and state the charge amount and to whom the charge is made out to prior to making the purchase. Have separate cards for various purposes like abc card for online use, def card for petrol and household bills and 123 card for shopping and dining. Makes detection and life easier.
So, what new ideas will our BN moot this time? Iris scanning? Finger-prints? Go watch more CSI lah.......
7 comments:
haha..actually no system is flawless. There are many types of chip cards, and bost banks choose the get the cheapest type, just to comply to visa, mastercard and BN mandates. :)
nick - true, true, i'd do that if i were the bank.
It's d magnetic stripe that has been cloned, not the microchip. The magnetic stripe clonning has been happening all this while, which prompted MasterCard and Visa to enforce the use of microchip.
I must say that Malaysia have the smartest crook in the world. This sort of Credit Card fraud usually involves Malaysian...hehe...
As what Bernard said, it's still impossible to clone a credit card chip YET (wait until Malaysian fraudsters finish their research !!). It's the info in the magnetic stripe (black stripe at d back of card) that was cloned. The cloning will continue because other country has not implemented the chip card. And Nick, it's not the cheapo type...bank absorb the cost because the profit was soo good.
bernard - we still cant be sure what's been cloned, how are we, as users, to know??
8dee - Well, that shows how smart we Msians are, locally and abroad.
anony - they damn well do, i contribute so much to their earnings.
The chip's basic structure and material can be cloned. But NOT the data inside the chip. You can try to de-crypt it but even with the world's most powerful supercomputer, it would probably take you around... Oh... 10 years for 1 card? By then you would have changed your card already right?
Like what bernard said. It's the magnatic strip.
It's like having a secret club bouncer accepting members with a secret hand shake. Every spy with a sharp eye can learn the hand shake from a distance...
They implement a new system which requires technology (say, a key card). But they still allow users to go in with the handshake. So... the spy can either steal the keycard the hard way... or still use the handshake...
In fact, this issue is not to blame the bank or the government. The government is stupid... Yes, but bank negara IS the one in charge to implement safe methods to handle transactions. Also, they are not the only one to be blamed. Shops who don't want to upgrade causes problems like this as anyone could simply tap into their phone lines and copy the credit card's magnetic stripe data. Users who are too careless about their own Card and forgot to keep an eye on it while the thief takes a picture of the card and use it online...
Samm, you said: we still cant be sure what's been cloned, how are we, as users, to know??
Well, users may not know what happened... BUT... engineers and programmers DO know the strengh of data encryption. It's like I give you a bucket of paint. I tell you there are 64 different colours inside which results in that bucket you are seeing now. Name me all 64 colours in the right sequence.
Not strong enough? Try 128 colours in 3 seconds only... :)
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