On unauthorised payment card transactions

The Bank of Russia witnesses more frequent payment card transactions carried out without cardholders’ consent (hereinafter, unauthorised transactions).

In particular, unidentified individuals place advertisements of the acquisition of payment cards or address cardholders directly offering to purchase their cards. These cards are subsequently used to carry out unauthorized transactions.

Bank customers should take into account that a cardholder who has not informed the bank about suspension or termination of card use is responsible for all liabilities arising from its use by third parties.

Submitting payment cards and providing PIN codes to third parties violate the terms of use of electronic payment instruments resulting in banks’ refusal to indemnify the card holder for unauthorized transactions.

Besides, the payment card submitted to a third party can be used for illegal actions. As a result, the cardholder risks to be made responsible as an abettor.

The Bank of Russia recommends the following measures to ensure payment card security and prevent unauthorized payment card transactions:

not to communicate the PIN code to third parties, including relatives, friends, credit institution employees and tellers;

not to submit the payment card for use by third parties, including relatives. Only the individual whose name and surname are indicated on the card is entitled to use the payment card;

not to provide personal details or payment card details (including PIN code) when asked to do so, including by the credit institution employee. Communicate this fact to the payment card issuer and the Bank of Russia.

The reference to the Press Service is mandatory if you intend to use this material.

14.07.2014 00.00.00