The Financial Supervisory Commission (FSC) has asked the Bankers Association (銀行公會) to amend guidance regarding mobile text notifications to alert consumers when their credit cards are being added to virtual wallets, after a person lost nearly NT$190,000 due to fraud, the commission said on Tuesday.
Banks are currently required to send texts to cardholders if they spend more than NT$3,000 on their credit cards, but there is no requirement for banks to notify people when their credit cards are added to digital wallets, the commission said.
A person hoping to buy mangoes from a farmer through a Facebook page provided their credit card information to a scammer who pretended to be the curator of the page, Banking Bureau Deputy Director Phil Tong (童政彰) said.
Photo: Kelson Wang, Taipei Times
Thinking that it was normal, the person gave the scammer the one-time password sent by their bank for online transactions, Tong said.
The scammer used the card number and the password to add the person’s credit card to a digital wallet, and later made eight payments totaling nearly NT$190,000, he said.
As the scammer did not make more payments for a short period, the bank failed to immediately detect the fraud, Tong said, adding that this is a new type of credit card scam.
“Before clearer text messages are provided by banks, we urge consumers to be careful regarding text messages that notify of a transaction of NT$1, as that amount usually correlates with the addition of a card to a digital wallet,” Tong said.
The digital wallet used by fraudsters is a third-party payment tool, which does not require the authentication of identity for user registration, so it is possible for someone to add another person’s credit card to their own digital wallet, the commission said.
The commission is not considering advising the Ministry of Economic Affairs, which supervises third-party payment tools, to set daily limits on payments from digital wallets, as consumers might still need to make big purchases with them, Tong said.
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