Dispute In Credit Card Transaction Part 1

7:20 PM


Hi Mr MOfrust, I am Amy (not her real name). I am calling from Maybank Visa. We would like to send a package to you because you have been chosen as a lucky winner. The package contains a holiday card with attractive discounts and can be used at over 1000 merchants....bla...bla...bla. Now I would just like to verify your details.....bla.....bla....bla.

After a lengthy call...

RM599 will be charged to your credit card as service charge.

I have received numerous calls like this since I received my credit card years ago. I was fooled once, thinking it was a complementary card from the bank. Back then, I was financially illiterate. A perfect target for these scammers. Since then whenever I receive calls like this I will just say politely;

"Nanti saya check dengan Maybank ye"

Some will respond with

"We are actually not related to the bank but represent Visa. This is normal for all Visa customers"


I did check with Maybank and Visa once they denied any affiliations with these companies. I queried Maybank via an official complaint regarding the abuse of my privacy. Their response was:

We do not have any affiliations with the company. We are not involved any sales or distribution of client's personal data. Please check with our Maybank Staff for clarification. 

I don't really mind these people calling. It is what they are paid to do. But the scary part is they have your EVERY detail. Your address, your IC number and credit card number!

What happened to me recently totally freaked me out. I had an ILLEGAL transaction from my credit card!
I have a habit of checking my accounts and credit card balance at least once a week. I record every transaction made in a separate record book. I am using a credit card not because I need the credit line but because of the ease of use and to gather points and rebates. To my surprise, I detected an illegal transaction from a TOWER LIFESTYLE - MOTO KUALA LUMPUR MY. I did not receive any phone call. I did not receive any SMS notification. This was a completely breach of security.

How did someone use my card without a signature or knowing my last 3 digit number?

I made a call to Maybank the same day and suggested I submit a Dispute in Credit Card Transaction form for them to launch an investigation and try to get my money back. Thus, the reason for the title of this post. I feel it is something that need to be shared as I had no clue about this procedure previously. The reason for multiple parts is so that I can update the progress as the case goes on. 

What can be done in a situation like this?
1. Prevention
  • NEVER reveal your Credit Card number, account number or PIN to anyone. Be careful when filling up survey forms and contest forms as well. Despite all this, sales of personal data is a very lucrative business and it can be an inside job.
  • Check and scrutinize your credit card statement regularly. Don't hesitate to call the service center if there are any discrepancies.
2. Call the Service Center
  • Most banks have a dedicated 24 hour service line. If you are overseas, there might be a different number to call. In my experience, the staff on line can be very helpful. Do keep tab of your spending habits with the credit card as the staff will need to verify who you are by comparing your answer with the records.
3. Fill up and submit the dispute form. (Maybank2u: Home page>Cards>Credit Card Safety Tips>Dispute Form)

Step 1: Cards Tab

Step 2: Credit card safety tips

Step 3: Download form

The Dispute Form
4. Cancel credit card
  • You may not want to do this but for my case, I think there is a serious security breach. If they can do it once, they can do it again.
  • You may decide to request for another credit card or go cash 100%.
  • If you still have pending EZ Payments, the staff can help to transfer the EZ Payments to a new credit card which may take a few days.
So, now I wait for the bank to start an investigation into this case and hopefully get a refund. I have also lodged complaints to Bank Negara Malaysia and Kementerian Perdagangan Dalam Negeri, Koperasi dan Kepenggunaan. I will update the progress in the subsequent post. Hopefully, by sharing this info others will know what to do and not be caught up with this predicament.

The ending of the story can be found at my Journey To Financial Literacy

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11 comments

  1. wow seems like a serious problem.. but this is trustable.. http://www.imoney.my/credit-card

    ReplyDelete
  2. I have heard all kind of fraud stories about credit cards from people around me. But this is definitely my first. There are even scams involving credit card applications and these scams usually those who are not financially illiterate. My advice is.. any credit card applicant should read the terms and conditions in detailed and know how the application works. Information about credit cards are aplenty in Internet. One good informative piece about credit card aplication can be found at http://www.bestcreditcards.my/online-credit-card-application/

    ReplyDelete
  3. The continuation of the story can be read in my other blog

    http://mofrust-money.blogspot.com/2014/09/scams-over-phone.html

    ReplyDelete
  4. Hello, I just want to find out did you manage to get the refund and bank cancel the transaction?

    ReplyDelete
    Replies
    1. Hi Nisa, I received the refund after a few weeks. They cancelled out the transaction in my credit card statement. Did you get conned by the same company?

      Delete
  5. I was conned by the same company. I filed a dispute with Alliance Bank for the credit card transaction. Few days later, the company called me, saying that in order for them to refund, they need me to withdraw the dispute. However, after I withdrew the dispute, I don't see any refund from the company. I am basically conned by them twice. So if any of you in the same situation, DO NOT withdraw the dispute.

    ReplyDelete
    Replies
    1. I wonder how these scammers can still be around

      Delete
  6. Im just cmplete being victim same like u...now dne called bank for 5 days before dispute form can be send...:( hope get refund
    May i knw that we cnfirm on getting back the refund?

    ReplyDelete
    Replies
    1. I had my refund within 2 weeks of the complaint. The bank didn't give any promise at 1st

      Delete
    2. Thanks alot...relief my suffer perhaps....should be fine if that happen....im going to bank to report again on this issue...and hope this stop before other people gotcha

      Delete
  7. Today I googled TOWER LIFESTYLE - MOTO KUALA LUMPUR and came across your blog post. My card was charged Rm399 by these people on Nov 2014 and I just found it out today. Why so late? Because my card was MBF card and towards the end of 2014 MBF was having all kinds of system problems while transitioning to AmBank. They missed sending me statements for a few months. Like yourself, I have the habit of closely monitoring my card usage, so even without any statements I still kept all the receipts and I still made all my payments every month. Then on March 2015 I decided to cancel this card coz of the lousy online banking system and I hate going to the counter everytime to pay. That's when all this fiasco started where they said I have outstanding balance. Finally a couple days ago they emailed me the missing statements from last year and I saw the fishy transaction. Going to proceed with the dispute now, let's see how it goes.

    ReplyDelete

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