Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Beware cunning new twist on bank card PIN scams

media release –12 May 2014

Beware cunning new twist on bank card PIN scams

Bank customers will continue to be ripped off by scammers as long as they keep revealing their card PINs, says Banking Ombudsman Deborah Battell.

“The reality is scammers are very cunning at getting bank card PINs out of people who make matters worse for themselves if they use one PIN for multiple cards. A recent case highlights what can happen if you reveal a PIN that you use for more than one purpose,” Ms Battell said.

The complainant took a phone call at work from someone saying she had won a $1,000 retail gift voucher, and was asked for a four-digit password to redeem it. She gave three different passwords but each time was told it was taken. She was then given a random one.

At the time she didn’t know her handbag, with two EFTPOS cards and a loyalty card for the retailer supposedly offering the voucher, had been stolen. The voucher was a trick to get her bank card PINs.

“The complainant lost $6,000 because, in the first instance, she revealed her PINs. She was tricked into disclosing hers by a scammer who played on the fact people limit the number of PINs they have.

“As well as the number one rule not to reveal your PINs, for additional account security we strongly advise customers have unique PINs for each bank card and not use these for other non-banking purposes,” Ms Battell said.

The complainant wanted her bank to reimburse her but it wouldn’t because she was careless with her PINs, and had left her bag in an unsecure place. Despite this, the bank offered her a goodwill payment of half the amount.

She then complained to the Banking Ombudsman Scheme because she didn’t think the offer was good enough.

“We had some sympathy for her. The scenario appeared credible because she shopped with the retailer and the voucher was relatively low in value. But because our investigation found she contributed to the theft by revealing her PINs, we suggested she accept its goodwill offer as the bank was not obliged to reimburse her,” Ms Battell said.

For more information about card security, see our quick guide on Looking after your credit and debit cards and PINs.

Ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Petrol Burns Prices: Second Consecutive Quarterly Fall For CPI

The consumers price index (CPI) fell 0.3 percent in the March 2015 quarter, following a 0.2 percent fall in the December 2014 quarter, Statistics New Zealand said today. The last time the CPI showed two consecutive quarterly falls was in the December 1998 and March 1999 quarters. More>>

ALSO:

Scoop Business: NZ Broadcasters Launch Battle Against Global Mode ISPs

New Zealand broadcasters have confirmed they’ve launched legal proceedings against internet service providers who give customers’ access to “global mode”, which allows customers access to offshore online content, claiming it breaches the local content providers’ copyright. More>>

ALSO:

Sanford: Closure Of Christchurch Mussel Processing Plant Confirmed

The decision comes after a period of consultation with the 232 staff employed at the Riccarton site, who were told on 9 April that Sanford was considering the future of mussel processing in Christchurch. Recent weather patterns had impacted on natural spat (offspring) supply... More>>

ALSO:

Price Of Cheese: Dairy Product Prices Fall To The Lowest This Year

Dairy product prices fell in the latest GlobalDairyTrade auction, hitting the lowest level in the 2015 auctions so far, as prices for milk powder and butter slid amid concern about the outlook for commodities. More>>

ALSO:

Houston, We Have An Air Route: Air New Zealand To Fly Direct To The Heart Of Texas

Air New Zealand will fly its completely refitted Boeing 777-200 aircraft between Auckland and Houston up to five times a week opening up the state of Texas as well as popular nearby tourist states such as Louisiana and Florida. More>>

ALSO:

Scoop Business: Reserve Bank’s Spencer Calls On Govt To Rethink Housing Tax

The Reserve Bank has urged the government to take another look at a capital gains tax on investment in housing, allow increased high-density development and cut red tape for planning consents to address an over-heated Auckland property market. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news