Learn about Credit and Debit Card Fraud
Credit and debit card fraud occurs when the information contained on your card is stolen and used to obtain funds from your account without your authorisation. Card reading devices are used to obtain the electronic data from the magnetic stripe on your card, and hidden cameras or false Personal Identification Number (PIN) pads are used to obtain your personal access code. That's why it is imperative that you protect your PIN.
Common Types of Credit & Debit Card Fraud
Card Not Present:
How CIBC Caribbean works to combat Credit and Debit Card Fraud
CIBC Caribbean helps to protect you from unauthorised use of your credit and/or debit card. We communicate and work with law enforcement agencies, regional Bankers’ Associations and other financial institutions on an ongoing basis to protect you from credit and debit card fraud. Despite our best efforts, you still need to take precautions to reduce your risk of becoming a fraud victim.
While a CIBC Caribbean credit or debit card is generally a secure payment method, credit or debit card fraud can still occur. As a VISA and MasterCard member, CIBC Caribbean is committed to helping protect our clients from credit or debit card fraud.
We continue to make a significant investment in security networks and in training experts who are constantly monitoring and investigating suspicious incidents as they relate to credit or debit card usage. In many cases, CIBC Caribbean is able to proactively identify unusual transactions that could indicate fraudulent activities on a credit or debit card. For instance, CIBC Caribbean may request that a merchant call us to verify your identity as a legitimate cardholder conducting the transaction.
Liability if your Credit/Debit card is used fraudulently
If you are a confirmed victim of fraud and you have met your obligations under CIBC Caribbean Credit Cardholder Agreement or CIBC Caribbean Debit Cardholder Agreement (whichever is applicable), you will not be held liable for the associated losses.
Review your CIBC Caribbean Cardholder Agreement for additional details.
How you can protect yourself from Credit and Debit Card fraud
Here are some precautions you can take to safeguard yourself and avoid becoming a victim of debit or credit card fraud:
Contact UsIf you suspect you have been a victim of fraud, call us at 1 866 743 2257 or email us at email@example.com.