FAQs on credit cards and counterfeit currency cases

how to counterfeit credit cards

FAQs on counterfeit notes and coins

Q What are the features of genuine Singapore currency notes?

A Please click here for features of genuine notes.

Q How can I distinguish counterfeit notes from the genuine ones?

A Please click here for information on how to distinguish counterfeit notes.

Q What are the features of genuine Singapore currency coins?

A Please click here for features of genuine coins.

Q How can I distinguish counterfeit coins from the genuine ones?

A Please click here for information on how to distinguish counterfeit coins.

FAQs on credit cards and counterfeit currency cases

Q How do I prevent the theft of credit cards, PINs and cheque-books sent to letter-boxes by the financial institutions through ordinary post?

A Members of the public should secure the lid of their letter-boxes. They should arrange to clear their mail from their letter-boxes frequently. They should inform their banks of changes to their address immediately. This should lessen opportunities for theft from letter-boxes.

Q How do I prevent fraud by other persons using my personal documents to apply for credit cards or line of credit facilities under the guise of my name?

A Members of the public should not pass the originals or copies of personal documents, including ID card, tax returns, salary records and bank records to unauthorised persons. If they need to pass such information to third parties for any legitimate purpose, they should send them direct to the relevant institution concerned and not pass them to individuals, who may abuse them for fraudulent purposes.

Q What should I do when I realise that my credit card is lost or stolen?

A You should inform the issuing bank immediately so that further fraudulent usage of the card by unauthorised persons can be prevented.

Q I have received a statement from the bank showing fraudulent transactions incurred against my credit card account. The fraudulent transactions are incurred in Singapore. What should I do?

A You should inform the issuing bank immediately so that further fraudulent usage of the card by unauthorised persons can be prevented. You should lodge a police report at the nearest NPC.

Q I have received a statement from the bank showing fraudulent transactions incurred against my credit card account. The fraudulent transactions are not incurred in Singapore. (This can be retail or internet transactions and identifiable by the type of currency charged) What should I do?

A You should inform the issuing bank and file a dispute claim with the bank immediately so that further fraudulent usage of the card / card details by unauthorised persons can be prevented.

Q What do I need to bring along when I lodge a police report at the NPC?

A You should provide your personal particulars, your card details and bank statement.

Q I have reported the loss of my credit card to the Police at the earliest opportunity but the bank still makes

me liable for the unauthorised charges incurred on my lost card. They continue to charge me interest and want me to pay up. What should I do?

A The outcome of the police investigation has no direct bearing on whether the bank will still hold you liable for the fraudulent transactions incurred against your account. Your liability in such circumstances depend on the terms and conditions laid down in the cardmembers' agreement on which the bank had issued you the card. If you are unable to resolve the dispute with the bank upon, you may wish to seek the assistance of the Financial Industry Disputes Resolution Centre (Fidrec). For more information, you may visit their website at www.fidrec.com.sg.

Q I have come across some local currency notes. I am not sure whether they are counterfeit currency notes. What should I do?

A You can approach the Currency Department of the Monetary Authority of Singapore to verify the authenticity of the notes. Their address is Currency House, 109 Pasir Panjang Road Singapore 118536. They may be contacted at Tel. 6349 4660.

Q I have received counterfeit currency notes. What should I do?

A You should avoid any contamination of physical evidence on the counterfeit currency note. You should place the counterfeit currency note in an envelope and lodge a police report at the nearest NPC. Do not make any markings on the counterfeit currency note.

Q If I surrender the counterfeit currency notes, will I be reimbursed?

A No, you will not be reimbursed by the authorities.

Q Can I knowingly keep a counterfeit currency note and not report the matter to the Police?

A You are bound by law to report to the Police of any offence relating to counterfeit currency notes. It is an offence under the Penal Code to possess counterfeit currency notes. Section 489C of the Penal Code, Chapter 224 reads. Whoever has in his possession any forged or counterfeit note or bank note, knowing or having reason to believe the same to be forged or counterfeit and intending to use the same as genuine or that it may be used as genuine, shall be punished with punishment for a term which may extend to 10 years.

Q I changed some currency notes from a moneychanger in Singapore, but when I went overseas, I was told that some of the currency notes were counterfeits. When I returned to Singapore, I questioned the moneychanger, but he denied that the notes were changed by from him. I have no proof. What should I do?

A To avoid such disputes with moneychangers, you should always check the notes before leaving the moneychangers' counter. If in doubt, record the serial numbers of the notes exchanged and request the moneychanger to acknowledge in the receipt he has issued you. When you are overseas, beware of scams such as the "sleight of hand" where culprits may switch your genuine notes with counterfeit ones and accused you of passing counterfeit notes.

Source: www.cad.gov.sg

Category: Credit

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