Singapore Credit Card Theft Handling Guide

I was almost done writing this article about 50 minutes before publishing, but the reason for the delay is that my credit card was stolen.

Yes, I have been using credit cards for more than 20 years, and this is the first time I have encountered fraudulent charges. If it weren't for the audacity of the criminals, I might have remained unaware for a long time.

While I was writing a previous tweet, I suddenly received a text message from DBS saying that my card was frozen due to frequent transactions. At that moment, I was typing and couldn't possibly be making purchases, so I started to check. Upon checking, I discovered that my credit card had been stolen since early August this year.

From early August until now, the person who stole my card has made purchases through four different companies. Since these were credit card transactions and mostly small amounts, around ten Singapore dollars, I wasn't notified, and I wasn't aware of it. In August and September, when I was paying my credit card bill, I didn't look closely and just paid it off.

It seems I was fraudulently charged around 500 Singapore dollars each month; I didn't calculate it precisely, but it should be approximately that amount, and the difference won't be significant.

This point is very important. I believe I'm not the only one; many friends use credit cards, so you must pay attention to your statements. I didn't focus on it because I saw each month's charges were within a general range, which led to this prolonged fraudulent activity.

Since this started in early August, it's hard to determine where my credit card information was compromised because my card has already been frozen. Therefore, I'm not too worried. I initially planned to consult my bank advisor tomorrow, but at that moment, I received a payment request from Vietnam that made me immediately cautious.

Even after my card was frozen, there was still a payment attempt, but this payment required my approval. I rejected it outright and then called DBS. DBS conveniently offers Chinese language services, which I was quite pleased about, but ultimately, all the service I received was in English, probably due to the late shift. Fortunately, my English is decent enough to explain the situation, and the bank staff promptly canceled my card.

After cancellation, it was no longer a concern, and then I had to deal with the stolen amounts that had already been paid. DBS has not yet given me a clear response, but since the three companies involved in the theft are legitimate, with two in AI and one in gaming, the likelihood of recovery is high, and I should be able to get refunds from these three companies.

Among these, the payments that have been Pending in the last two days are not my responsibility, but for the amounts I have already paid, I will see how DBS handles the refunds. Thankfully, the loss is not substantial, but it is still quite distressing.

So friends, please pay attention and protect your cards. Avoid making purchases in suspicious places, and keep your card within your sight at all times. I just calculated again that I traveled abroad before the theft, and I'm not sure if the issue arose while I was overseas.

Stay vigilant.

A @Gate, trading in more markets

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