I am a banker. Well, actually, an ex-banker.
It was ironic how I got into this kind of trouble when I am familiar with how credit card works and how bank frauds are done.
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I cannot recall giving away my credit card information to a stranger nor opened an email from a website that looked like it was a legitimate bank site.
I do not know, but I was scammed and now I have to pay for a credit card purchase I did not make.
Here is my story.
I can still remember it. The date: March 08, 2019.
A customer care representative called to ask if I used my credit card for a Lazada purchase worth PHP 91,000.00 (USD 1,800).
Of course, I denied it because the card was with me. I should know if I used it or gave someone the authority to use it.
Then, she advised me to fill out some bank forms and to send the forms to another department. I followed her instructions.
After that call, I forgot the incident completely, confident that the illegal purchase will not be charged to my credit card.
I was surprised.
After a few months, I received a call from another bank personnel. She was asking me to pay my overdue account, which reached up to a hundred thousand pesos.
I argued that I should not be charged because I denied the purchase on the day it was made.
But, the unauthorized purchase was posted to my account and there is nothing I can do about it.
I was nervous.
This time, the bank endorsed my account to an independent collection agency.
Things got worst and my credit standing was affected.
Bank credit cards are very useful to some extent, especially during emergencies and unplanned spending. But it can be your worst nightmare.
You should always check and monitor your purchases the moment you see your monthly Statement of Account.
Just my 2-cents worth, I guess banks should add another layer of security to their online transactions for a more secure online banking experience.
The One Time Password (OTP) is not enough.
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Are you a scam victim? Do you think I should pay for the unauthorized purchase? Please share your thoughts. I am happy to know your experience.