From November 1, 2009, the liability of credit cardholders due to unauthorised transactions prior to the cardholder notifying the bank of the loss was limited to $100 provided the cardholder:

• had not been negligent;
• had not acted fraudulently; and
• had immediately notified the card issuing bank upon discovering that the card was lost or stolen.

Fraud prevention is a shared responsibility involving banks, customers and merchants.

	Keep your card safe
	Choose a personal identification number (PIN) that’s not your phone number, home address or your birthday. Memorise your PIN and don’t write it on anything in your wallet. According to banking industry data, in a third of all ATM card frauds, the PIN was on the card or in the wallet. Destroy the PIN mailer that you receive after memorising this PIN. Check all your receipts against bank statements. You will be able to spot any unauthorised transactions. You should not lend your cards to anyone or leave cards and receipts lying around in your home or on your office desk. Use alert services provided by banks, for example Citi Alerts, to keep track of unauthorised use of your card.