A 35-year-old man is set to be charged on 18 September 2024 with cheating after allegedly using a stolen credit card to make unauthorized retail purchases exceeding $700.
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The police received a report on 24 August 2024 from a victim who discovered several fraudulent transactions on his missing credit card.
With the increasing prevalence of contactless payments and online shopping, it has become alarmingly easy for criminals to exploit stolen credit card information. In this case, the suspect was able to use the card without immediate verification, highlighting the vulnerabilities in the system that can lead to unauthorized use.
Following an investigation, officers from the Ang Mo Kio Police Division identified and arrested the suspect on 17 September 2024. The charge of cheating carries serious penalties, including a potential jail term of up to 10 years and a fine.
The police emphasize that unauthorized use of another person’s credit or debit card is a severe offense and that they will take a strong stance against fraud.
Protect Yourself from Fraud: Tips to Safeguard Against Stolen Credit Card Use
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To protect yourself from similar incidents, consider the following prevention tips:
Opt for SMS or Email Notifications: Set up SMS or email notifications to alert you immediately of any charges incurred on your credit or debit card. This allows you to quickly spot and report any suspicious activity.
Enable SMS OTP Verification: Enable SMS one-time password (OTP) verification for all purchases or charges made on your credit or debit cards. This adds an extra layer of security by requiring a verification code sent to your phone.
Regularly Review Statements: Regularly check your bank statements for any discrepancies or unauthorized charges and report them to your bank immediately.
By staying vigilant and adopting these measures, you can better protect yourself from the ease with which stolen cards can be used, safeguarding your finances against fraudulent activity.
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