A man warn other UOB account holders to check their accounts often, When the man discovered 13 unauthorised deductions from his United Overseas Bank (UOB) debit card, he was shocked. He had no idea how this could have happened as he had not received any OTP alerts from UOB.
The deductions, amounting to nearly a thousand dollars, had been made over a period of two weeks. the man was certain that he had not made any of these transactions. He immediately contacted UOB and lodged a complaint.
Hacked
The man’s story is unfortunately not unique. In recent years, there have been a rising number of cases of unauthorised deductions from UOB accounts.
The most common way fraudsters have been able to perpetrate such scams is by using stolen card details. The details are then used to make online purchases. This may be done through online marketplaces or websites that offer services such as streaming, gaming, and gambling.
In other cases, fraudsters may use stolen card details to make purchases at brick and mortar stores. They may also use the details to transfer the funds to their own accounts.
UOB has taken steps to prevent such fraud. These include implementing a two-factor authentication system for online transactions and introducing fraud monitoring measures.
Despite these measures, some customers have still been targeted. One reason for this is because UOB does not send out OTP alerts for every transaction. This means that customers may not be aware of unauthorised deductions until it is too late.
This is why it is important for UOB customers to regularly check their accounts and report any suspicious activity immediately.
UOB also recommends that customers never share their card details and PIN with anyone. This includes those who claim to be authorised representatives of the bank.
Customers should also take precautions when making online purchases. They should always check the authenticity of the website, check the payment page is secure, and use a credit rather than a debit card.
In the event of a fraudulent transaction, customers should immediately contact UOB. UOB has a team of fraud investigators who will work to quickly resolve the issue.
The man’s experience is a reminder of why it is important for UOB customers to remain vigilant. He has since shared his story on social media as a warning to other UOB account holders to check their accounts regularly.
UOB has responded to the incident by reiterating its commitment to ensuring the safety and security of its customers’ accounts. It has also launched an awareness campaign to educate customers on how to protect their accounts from fraud.
Fraudulent activities can have serious financial and emotional repercussions. Therefore, it is important for UOB customers to remain vigilant and take the necessary precautions to protect their accounts.