Polaris Bank Fraud Knowledge Base

Card Fraud (Credit / Debit).


This occurs through a variety of methods:

Card Present:
This is when your card is lost or stolen and used by a third party to purchase goods or to remove cash from the card. This can also take place when a dishonest merchant undertakes unauthorized duplicate transactions on your card.

Card not Present:
This is when a fraudster uses your card details online or over the phone without the card being present. Your details may have been compromised electronically or obtained by fraudsters who persuade you to disclose them via a phishing email or telephone scam. Counterfeit Card: This is where your card is fraudulently reproduced in order to use the balance to obtain a financial advantage.

Card Fraud Prevention Tips.


  1. Activate new cards as soon as you receive it and change the default PIN.
  2. Memorize your personal identification number (PIN). Don't use the same PIN for all your cards, and don't choose your birth date or other easily identifiable numbers that might be on something else in your wallet
  3. Shield your PIN with your free hand when typing it into a keypad in a shop or at an ATM.
  4. Be alert. If someone is crowding or watching you, cancel the transaction and go to another machine. Don't accept help from seemingly well-meaning strangers and never allow yourself to be distracted.
  5. Always check your balance before any withdrawal and report any suspicious transaction as soon as possible to the bank.
  6. Change your PIN regularly especially when you have the feeling that it may have been compromised.
  7. Check your statements regularly and call the bank immediately if you notice anything suspicious.
  8. Do not let your Debit/credit card out of your sight at any time.
  9. Tear up all card receipts and pre-approved credit card offers into small pieces before you throw them away.
  10. When you use your card online, make sure you are using a secure website. Look for a small key or lock symbol at the bottom right of your browser window.
  11. Never give your card number, PIN or CVV2 (3 digits behind your debit or credit card) to anyone (family, friends or strangers).
  12. If you spot anything unusual about the ATM, or if there are signs of tampering, don't use it, report it to the bank.
  13. Once you've completed a transaction, put your money and card away before leaving the ATM. If the ATM doesn't return your card, report its loss immediately to the branch or call the Yes Center.
  14. Sign up for SMS and email alert on your accounts. This will enable you to monitor activities on your account.
  15. Report any loss or theft of your card immediately.