Rise in credit card mail thefts gets banks worried

More and more credit and debit cards sent via post to successful applicants and customers are being stolen even before they reach the customers. They are usually sent as ordinary mail.

Police from the Commercial Affairs Department investigating white collar crime recently called a meeting with the banks to discuss the issue.

One local bank had also raised the problem with both the Monetary Authority of Singapore (MAS) and the Infocomm Development Authority of Singapore (IDA). MAS regulates banks while IDA oversees postal services.

SingPost handles about 2.8 million postal items daily. It does not track ordinary mail. The law does not require SingPost to track such mail.

On Friday, local media reported that eight bags of mail were stolen from a SingPost mail transit room in Choa Chu Kang on July 20.

ORIGINAL SOURCE

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