Debit Card in Malaysia not Secure Enough ?

This week, there’s a viral issue about a person losing her wallet. It is her fault to lose the wallet but in her story it show that person who found her wallet using her debit card.
The amount is really ridicilous as the thief using to buy gold which is cost about RM2,000 above. The victims has make a report to police and bank but unfortunately it ain’t easy to catch the thief (I called her as a thief eventhough she not stole the wallet directly).

It make me curious how easy other people could use our debit card without any authorization control. I’m not a card user before so I’ve tried to buy groceries from Mydin using Maybank Debit Card and found it is easy. You don’t need to put PIN number. The cashier swipe your card and then you sign the receipt.
They don’t even need to verify whether my signature is really same or not. It is prove that our card is not really secure. I’ve read some comment from internet that a person use her husband card without any PIN or authorization. Just signature as her like. It make me afraid and think that I couldn’t put too much money on that bank.

I’ve visit Al-RayanBank UK website. It show that they are really particular about fraud. If they see some suspicious activity or transactions occur outside of their customer normal spending, they will contact to confirm whether the transaction is genuine or not. They will blocked the acoount if there’s no confirmation from their customer regarding the unusual activity of their Al Rayan Bank Debit Card.

I think, Malaysia bank need to ensure our debit card is secure as our country want cashless transaction. I think the PIN number need to added for each transaction or bank need to send daily transaction to our email. It is not just about losing our card but also to look whether there’s a fraud like clone card. There’s also many cases among debit card that need to be study by the bank in Malaysia. They need to find a way to ensure people feel safe using their debit card and not just do HYPE promotion only. The news about this fraud will give bad reputation for those bank.

| How To Protect From Debit Card Fraud |
Maybe the fingerprint option need to be introduce for debit card transaction. It ain’t easy for those thief to use fingerprint rather than just sign.
Do you have opinion or experience on debit card security in Malaysia? Let’s share and keep the discussion open.

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