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

 

Scoop Business: Spark, Voda And Telstra To Lay New Trans-Tasman Cable

Spark New Zealand and Vodafone, New Zealand’s two dominant telecommunications providers, in partnership with Australian provider Telstra, will spend US$70 million building a trans-Tasman submarine cable to bolster broadband traffic between the neighbouring countries and the rest of the world. More>>

ALSO:

Statistics: Current Account Deficit Widens

New Zealand's annual current account deficit was $6.1 billion (2.6 percent of GDP) for the year ended September 2014. This compares with a deficit of $5.8 billion (2.5 percent of GDP) for the year ended June 2014. More>>

ALSO:

Still In The Red: NZ Govt Shunts Out Surplus To 2016

The New Zealand government has pushed out its targeted return to surplus for a year as falling dairy prices and a low inflation environment has kept a lid on its rising tax take, but is still dangling a possible tax cut in 2017, the next election year and promising to try and achieve the surplus pledge on which it campaigned for election in September. More>>

ALSO:

Job Insecurity: Time For Jobs That Count In The Meat Industry

“Meat Workers face it all”, says Graham Cooke, Meat Workers Union National Secretary. “Seasonal work, dangerous jobs, casual and zero hours contracts, and increasing pressure on workers to join non-union individual agreements. More>>

ALSO:

Scoop Business: ComCom Charges Hawkins’ Finance Companies Over Debt Recovery

The Commerce Commission has filed criminal proceedings against two finance companies run by former 1980s high-flyer Allan Hawkins over their debt recovery practices. More>>

ALSO:

Science Media Centre: The Big Science Stories Of 2014

It was a dramatic year for science, one that witnessed a severe outbreak of Ebola in West Africa and an historic mission to land a space probe on a comet. On the home front... headlines with animal testing for 'legal highs', 1080 use to tackle increased pest numbers and court action over genetically modified organisms among the most-covered stories. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news