Bangladesh Bank (BB) has issued a warning against converting plastic debit and credit cards into metal ones through unauthorised institutions.
The central bank recently observed that certain unauthorised third-party organisations are enticing customers with offers to transform their plastic cards into metal versions.
This process requires customers to share sensitive information, including card numbers, expiry dates, and Card Verification Values (CVV), which poses an extreme security risk.
According to the central bank, these entities lack approval from any bank or regulatory authority. Consequently, engaging in such activities may lead to the following risks:
• Leaking of confidential card data, leading to potential fraud.
• The possibility of unauthorised transactions.
• Financial loss to customers and compromised data security.
• Increased risks to the overall card management system.
Bangladesh Bank has urged all customers to refrain from converting plastic cards to metal ones or sharing card-related information with unauthorised individuals or entities. For any card-related services, the public is advised to use only the authorised channels of their respective banks.
The central bank further stated that ensuring the financial security of customers remains the highest priority for banks.
Customers are strictly advised never to share card details or One-Time Passwords (OTP) under any circumstances. Furthermore, if any suspicious activity is detected, it should be reported to the concerned bank immediately.
