I got a curious call on Saturday night from my bank asking if I was in Sri Lanka. At this point alarm bells were ringing as No, I was definitely not in Sri Lanka and nor should my debit card be withdrawing money from any ATMs there. Luckily it seems my bank has a pretty good fraud detection system – the card was cancelled immediately and I’ll be getting the £250 they stole back.
“About 2300 of the fake cards had been encoded with genuine credit card data from England, one official said, adding that if all 5350 cards were used, the men could have withdrawn up to 400 million baht ($11 million).”
Apparently, it’s believed that the credit card details are stolen in England and then encoded onto fake cards in Thailand. What’s even more worrying is that there is very we can do to stop this as individuals aside from the usual precautions. At the end of the day it’s more of a hassle than anything else to sort out and one which I could do without!