{"id":9901,"date":"2026-04-28T10:17:54","date_gmt":"2026-04-28T02:17:54","guid":{"rendered":"https:\/\/www.fmos.org.my\/?p=9901"},"modified":"2026-04-29T15:29:28","modified_gmt":"2026-04-29T07:29:28","slug":"credit-card-scam-weak-customer-verification-process","status":"publish","type":"post","link":"https:\/\/www.fmos.org.my\/en\/credit-card-scam-weak-customer-verification-process\/","title":{"rendered":"Credit Card Scam – Weak Customer Verification Process"},"content":{"rendered":"\n

<\/p>\n\n\n\n

Shane fell victim to a credit card scam in which his mobile device was compromised. He disputed 25 unauthorised credit card transactions totalling RM23,205, performed between 11 and 15 February 2024.<\/p>\n\n\n\n

The investigation revealed that a fraudster successfully impersonated Shane by contacting the bank\u2019s call centre. The fraudster was able to obtain temporary online banking login credentials after passing a weak identity verification process, despite submitting incomplete and suspicious information.<\/p>\n\n\n\n

On 13 February 2024, the fraudster changed the registered mobile number to their own and bound a new mobile device to it. This enabled the fraudster to carry out unauthorised transactions on 14 and 15 February 2024 using soft token approvals via the compromised credit card.<\/p>\n\n\n\n

FINDINGS<\/strong><\/h5>\n\n\n\n

An audit of the call recordings revealed significant lapses in the bank\u2019s identity verification protocols. The caller spoke with a pronounced Malay accent, which did not match the account holder, and was unable to provide correct details about the registered email address and account information.<\/p>\n\n\n\n

Despite these discrepancies and multiple red flags, the bank\u2019s staff proceeded to authenticate the caller and issued temporary login credentials. Additionally, the fraudster prompted the bank\u2019s staff to disclose sensitive information, a classic indicator of social engineering fraud. Subsequently, a request to change the registered mobile number was processed without adequate safeguards.<\/p>\n\n\n\n

The bank\u2019s internal security protocols were found to be significantly compromised during the impersonation attempt, with the absence of robust multi-factor authentication for critical changes such as mobile binding and number updates and demonstrated inadequate security awareness among contact centre personnel.<\/p>\n\n\n\n

OUTCOME<\/strong><\/h5>\n\n\n\n

The case manager determined that the financial loss stemmed from two distinct failures.<\/p>\n\n\n\n

The initial transactions on 11 February 2024, amounting to RM9,090, were attributed to Shane\u2019s own mobile device being compromised, leading to unauthorised push notification approvals. However, the subsequent transactions on 14 and 15 February 2024 were only possible because the bank\u2019s weak verification process allowed the fraudster to hijack the account.<\/p>\n\n\n\n

Consequently, it was recommended that Shane be held liable only for the initial RM9,090, while the bank absorbs the remaining RM14,115. Both parties accepted this recommendation, and the case was resolved.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Shane fell victim to a credit card scam in which his mobile device was compromised. He disputed 25 unauthorised credit card transactions totalling RM23,205, performed between 11 and 15 February 2024. The investigation revealed that a fraudster successfully impersonated Shane by contacting the bank\u2019s call centre. The fraudster was able to obtain temporary online banking […]<\/p>\n","protected":false},"author":4,"featured_media":9923,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[26,25],"tags":[],"class_list":["post-9901","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking-islamic-banking-payment-systems","category-case-studies"],"acf":[],"yoast_head":"\nCredit Card Scam - Weak Customer Verification Process - FMOS<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.fmos.org.my\/en\/credit-card-scam-weak-customer-verification-process\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Credit Card Scam - Weak Customer Verification Process - FMOS\" \/>\n<meta property=\"og:description\" content=\"Shane fell victim to a credit card scam in which his mobile device was compromised. 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