In response to recent public concerns about fraudulent or unauthorised online debit and credit card transactions, Bank Islam Brunei Darussalam (BIBD) acknowledged the issue and reaffirmed its commitment to addressing these issues promptly.
BIBD remained steadfast in its dedication to providing a balanced, secure banking environment for the safety of its customers.
“BIBD has found no evidence to support allegations of ‘insider dealing’ as alleged in the social media.
“The recent public complaints involving unauthorised transactions occur outside the BIBD system and beyond BIBD’s control,” the bank said in a statement.
“As a precaution, customers are advised not to save their credit or debit card details in any web browsers. BIBD also advises our customers to disable auto transfer and auto-fill settings in social media applications on your phone to prevent unauthorised or automatic deductions. Additionally, customers should not disclose their banking details to third parties under any circumstances,” BIBD said.
“Globally, card transactions are processed by payment gateway companies selected by the respective merchants. BIBD has no control over these companies. When a transaction is processed, the payment gateway company records the card details to complete the transaction.
“There have been instances where these payment gateway companies has been compromised leading to leakage of cardholder data including those from Brunei. The process occurs outside of BIBD’s system, and BIBD confirms its system has not been affected, as verified by an independent third-party review,” the bank added.
BIBD will continuously collaborate with card scheme providers such as Mastercard and Visa to issue debit or credit or virtual card and is fully committed to assisting its cardholders in raising disputes with the relevant card scheme providers within the timeframe stipulated by each provider, following a thorough investigation and validation process.
“Fraudulent online activities involving credit and debit cards are a widespread global problem, not unique to BIBD or Brunei Darussalam. According to recent statistics from Mastercard, global e-commerce fraud losses amounted to USD48 billion in 2022, underscoring the extensive nature of this concern.
“Additionally, recent news about Black’s Stash Market, where allegedly one million credit card details were leaked online, highlights the global prevalence of card fraud. BIBD reassures the public, and particularly its cardholders and customers, of its full commitment to addressing disputes arising from fraudulent charges,” said BIBD.
BIBD also advises affected customers to come to the bank’s branches or download the card dispute form from its website and email it, along with any supporting documents if available, to customer.resolution@bibd.com.bn. The bank will then forward the dispute to the relevant card scheme providers for the refund provided it is a genuine fraud dispute. Customers can also contact the BIBD contact centre at 2238181.
“BIBD has also taken proactive steps to block certain high-risk online payment gateways. Customers may notice restrictions when using their cards on these websites. While this may create inconvenience for customers, it is a necessary measure to prevent unauthorised transactions and provides assurance that the bank is actively working to mitigate potential risks,” said BIBD.
“To enhance card security and resolve disputes, customers who suspect their credit, debit or virtual card has been compromised should request an immediate block on their card and BIBD would issue a new card replacement issued promptly. Similarly, users can block their debit card and virtual card via the BIBD NEXGEN Wallet mobile app and request a replacement by contacting our contact centre. BIBD would like to thank all its customers for their understanding and cooperation as we navigate this global challenge together,” it added.
