In the past, if people want to use your money, they’ll either need to know your ATM card’s PIN number or steal it from you.
But now, it’s easier, what with contactless payments like PayWave, debit cards and whatnot.
Which begs the question: What’s the first thing you should do if you’ve misplaced your bank card?
A) Assume it’s at home and wait until night
B) Put it to the back of your mind because “it’ll turn up eventually”
Or C) Call your bank and cancel it immediately
While C sounds like the riskiest option, what if it’s at home? What if it fell into my bag? Or what if my mom took it without my permission?!
Not doing it might cause you even more trouble.
Woman’s Missing Card Used On Spending Spree
On 21 June 2019, a woman lodged a police report.
She had left her credit card at an AXS machine along Bedok North Street 1.
When she checked, she realised that there were two unauthorised transactions made on her credit card.
On 23 July 2019, officers from the Commercial Affairs Department (CAD) identified and arrested a 52-year-old man.
Investigations revealed that he had used the missing credit card to make unauthorised transactions at an entertainment outlet.
The amount totalled to $300.
Lesson 1: Somebody’s always watching
So, you found a debit or credit card on the ground and you’re tempted to use it on yourself.
Don’t, because while no one can identify you, just remember that almost everywhere in Singapore is covered by cameras.
Draw money from the ATM, there’s CCTV. Buying stuff at 7-Eleven? There’s a CCTV too.
Sooner or later, the men in blue will catch up to you.
And when they do, this is what you’re facing:
- For cheating by personation, you can face up to 5 years’ jail time, a fine, or both.
- If guilty of dishonest misappropriation of property, you’re looking at up to 2 years’ jail time, a fine, or both.
In short? Totally not worth it.
Lesson 2: Call Your Bank Immediately
So, you’re thinking: What’s the big deal? My money will be returned to me anyway.
True, but only after you’ve made a police report, waste taxpayers’ money, check-in with the bank, make sure the money is returned and tell all your friends about what happened to you.
While if you immediately cancel your card after discovering it missing, you’ll only need to wait for a couple of days for the bank to mail you a new card.
Moral of the story? Call the bank immediately. The most you have to deal with is 3 days without a bank card.
If you watch at least 10 minutes of brain rot content daily, you must know this:
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