Well, I must confess I had heard that in Singapore the cardholder is actually liable for any fraudulent activity relating to ones card - but we're creatures of ostrich propensity and I never really paid much attention to this niggling difference. In the UK, and a vast array of other "developed" nations, the merchant is actually liable for fraudulent transactions and has an obligation, therefore, to check the identity of the cardholder when they make a purchase.
They check your signature and may even ask for photo ID if you're buying something expensive.
Not so in beautiful Singers...here you can (and believe me cos I've done it) sign your name at Batman, Hitler or Mickey Mouse and the merchant won't bat an eyelid [pardon the pun].... why? Because they're not bloody liable, that's why.
It's a sham that's recently been highlighted in the local press and NOW at long last the Monetary Authority of Singapore is calling the banks to task on this -- but how long will it take to action?
The greatest irony of this all is that my credit card from Citibank - oh yes I shall name and shame - actually re-issued my about-to-expire card; the irony? Well, my previous card which expired on 31st August was a photo-card complete with a delightful mugshot of yours truly. The new "enhanced" card came complete without Darren's beaming visog but accessorised (and I use that term purposely) with a PIN chip built-in.
More secure, I hear you yell..!
Well, except that Singapore hasn't instituted a Chip and PIN scheme so the chip is redundant - you can't even eat the damn thing - so what's the point of that....!?
I have intelligence that the culprit is a 30+ male of Indian descent - how ironic...do you suppose he'd have been as successful in separating me from my credit line with my blue-eyed lily white countenance glaring back at the merchant? I doubt it somehow....
Thanks Citibank - from security to stupidity in one fell re-issue.
I love banks....I love them like Kin Jung Il loves democracy - you simply can't bank on them.
Oh and the photo? What's that all about?
Well my dryer wasn't performing, [in fact it was taking over 2 hours to dry 2 towels, 3 shirts and a sock] so I investigated and found a ton of fluff inside the filter -- thank you Miss Landlady for preparing my flat so well and cleaning thoroughly for my move in. Mind you, the fluff does have something in common with the banks in Singapore: they're grey, they're soiled, the lurk in dark corners with little or no transparency and worst of all, they stop the system from working properly...!
Good night.
OH Darren! What a nightmare!
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