x Abu Dhabi, UAEThursday 20 July 2017

Bank lifting ATM limits after wave of frauds

A bank has begun lifting emergency limits it placed on customer account withdrawals after a wave of ATM fraud in the UAE.

ABU DHABI // A bank has begun lifting emergency limits it placed on customer account withdrawals after a wave of ATM fraud in the UAE. Banks cancelled cards and urged people to change PIN numbers after a breach in security allowed overseas criminals to draw money from accounts and make purchases on cloned cards. Many people were limited to amounts as small as Dh100 (US$27) a day. HSBC said it had contacted customers about the initial frauds and limits, and its services were now returning to normal.

Jonathan Campbell James, the regional head of fraud and risk for HSBC, said: "We have introduced a special accelerated procedure for fully refunding affected UAE customers within 72 hours of registration, and are providing free replacement cards." However, one HSBC customer said he was still facing problems with his account. Marc Peterson was told he would be refunded Dh9,900 lost through fraudulent transactions in the Ukraine within two days of discovery. However, he did not receive it for a further nine days - by which time he was overdrawn by Dh6,000.

"From the very start, this whole situation has been a disaster," he said. @Email:mswan@thenational.ae