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KBank cracking down on credit-card fraud.
Byline: Darana Chudasri
Nov. 1--Kasikornbank is tightening its internal policies to clamp down on rising credit and debit card fraud.
Kattiya Indaravijaya, a first senior vice-president at KBank, said it was considering reducing the minimum usage amount for SMS alerts to help customers better track their card usage.
Currently the bank sends an SMS for every credit card transaction of more than 2,500 baht. The alert service is a safeguard for cardholders to ensure that transactions are properly authorised.
"We may reduce the minimum amount for the alert service to 1,000 baht for credit card transactions in the near future to protect our customers from fraud, which is now rising with the economic slowdown," Mrs Kattiya said.
For debit card customers, SMS alerts will be made for any transactions at a point of sale.
Spending through debit cards is rising quickly, from only 4 percent of total transactions, including ATM withdrawals two years ago to 18 percent now," Mrs Kattiya said.
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