Bank ATM thefts

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Bank ATM thefts

Postby Deezo » 23rd July 2010, 15:02

Dear Zambia,

This is real people... I know two people who found large amounts gone from their Stanchart accounts... withdrawals done from ATMs in South Africa and Botswana.

Somebody better explain whats going and more importantly give the victims some meaningful assurance that their hard-earned money will be refunded promptly and not the "we are still investigating and will get back to you after 45 working days" (which basically means after two months!) bullshit and in the meantime you are supposed to do what?? For some its a whole month's salary gone!!

What is the bank regulation board doing about this??
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Re: Bank ATM thefts

Postby Hachi » 23rd July 2010, 15:46

There is definetely something gpoing down at Stanchart. I am advised that I must not use their ATMs at all as money will just keep disappearing from my account.
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Re: Bank ATM thefts

Postby Teena » 24th July 2010, 09:41

Latest from Stanchart

Dear Esteemed Customer,

In the last few days, some retail banking customers in Zambia have reported suspicious Debit Card transactions on their accounts to their different Banks. Our initial investigations have revealed that some cards in the market could have been cloned and/or skimmed and these were now being used outside the country to transact on both ATMs and Points of Sale machines. The Bankers Association of Zambia may soon issue a statement to the general public.

In order to protect the customers’ funds and to ensure that customers are not inconvenienced, a number of Banks have taken various protective and preventive measures. Some banks have blocked certain countries while others have reduced transaction limits in certain countries. For example, Standard Chartered Bank has blocked card transactions in 21 high risk countries. The Bank has further reduced the limit from USD2,000 to USD200 for all non-SCB card transactions. However, the withdrawal limits on SCB ATMs has remained at ZMK9,900,000. Further the Bank has blocked all transactions on some cards where a suspicious transaction has been identified and replacement cards are currently being issued.

Will I get a refund if I have lost money in the process?
Naturally, the Bank will verify the particular transaction and will advise the next action. As a normal banking practice, if the bank’s investigations prove that you were not involved in the disputed transaction, the Bank will normally reverse the disputed transaction and ensure that you are not inconvenienced.

Can I continue to use my Card?
All customers can continue to use their cards normally. However, customers are advised to continue observing the security tips advised by their Bank.

Can I use my card outside the country?
Due to the current potential risk some countries have been blocked and the transaction limits in some countries have been revised. Customers are encouraged to ensure that they check with their banks on the status for their destination before they travel.

Should I do anything now?
Be calm and trust that your bank is taking care of your funds. The Central Bank has done a commendable job to build a very strong banking industry in Zambia. Your funds should be very safe and every responsible bank will continue to ensure that its customers are not inconvenienced. If you notice, any suspicious transaction on your account, please do not hesitate to contact your bank.

Feel free to share this message with your friends and colleagues. For Standard Chartered Bank customers, you can call toll-free 5247 from any mobile network or the 24hrs hotline on 0977999990 or 0966999990 if you need further information.

Yours Sincerely,
Standard Chartered Bank.
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Re: Bank ATM thefts

Postby the PS » 25th July 2010, 22:10

Teena, what our beloved stanchart is forgetting to is to tell people how this ih happening. What should people look out and what should people not be doing. Atm and debit card fraud is very common in other parts of the world. Fraudstars have mastered it so well you will not know when it has happened to you
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the PS

Re: Bank ATM thefts

Postby KamaSutra Expert » 26th July 2010, 09:20

Bravo ,bravo bloggers ,bravo all companys that are responding.I can see we are getting somewhere and our lovely website was not in vain!First it was Rhapsody,then RTSA,then Madison,then Stanchart management replying to people's complaints!how lovely,I look forward to a situ were almost all firms complained against will be issuing responses....let the next be ZAIN coz I have seen a number of complaints against them.
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KamaSutra Expert

Re: Bank ATM thefts

Postby TRZ » 26th July 2010, 10:13

I know that that letter is the standard letter that StanChart has been sending to customers. My problem is that, they have now replaced all my daily statements with the letter. Ya how? How am I going to monitor my account for suspicious transactions if you stop sending me my daily accounts. All I am receiving is this repeated threat. I am not sure I am that daft not to read the first three at least.

This brings me to another issue. The banks do not seem interested in us monitoring our accounts. I have been trying to get my online account settings for ages now. What's up with that. An application takes forever. I understand the need for security (especially in light of these happenings) but that does not excuse the slow speed at which StanChart clears requests for online passwords. My feeling is that banks are scared that we will know too much about how much they charge us as well as all the little ten pin thefts by bank employess that we, otherwise, do not notice? Is that the issue here or I just have a conspiracy theory? Muchinje.
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