DUBAI: Banks in the United Arab Emirates have introduced new security measures and warned customers to change debit and credit card codes after fraudsters used counterfeit cards to withdraw money from accounts. “Following a countrywide increase in card fraud, Lloyds TSB Middle East, as part of a coordinated approach with other banks in the UAE, strongly recommends that all of our customers urgently change the pin numbers of their debit cards,” the bank said.
Lloyds TSB, HSBC, Citibank, National Bank of Abu Dhabi and Dubai Bank are among lenders that have sent statements warning customers of the threat after a spree of fraudulent withdrawals both inside and outside the UAE.
Some of the banks have promised to reimburse customers who have lost money while others have resorted to blocking customer transactions in some overseas locations.
