Tag Archives: comgateway

Unauthorised credit card charges: comGateway emerges as focal point

In what is believed to be a case of data theft, online shopping and shipping portal comGateway has made a police report after it was identified as the “common point of purchase” for credit cards here that were recently hit by a wave of unauthorised charges. comGateway Chief Executive Officer Danny Lim said the company was on Feb 11 notified by banks of the issue and it made its police report the next day. The Monetary Authority of Singapore (MAS) yesterday said comprehensive security measures for payment cards in Singapore were in place, but payment transactions also involve parties other than regulated financial institutions — such as merchants — and data theft can occur at these entities.

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COMGATEWAY AND BANKS ARE HIDING INFORMATION FROM CONSUMERS

So after the reading the letter from comgateway shared on Hardwarezone, I am pretty sure something must be wrong at comgateway and it is the point of compromise of the large numbers of credit card fraud. The scary thing is for people like my wife, whose cards were not scammed yet, but her credit card and personal info could already be in the hands of crooks. Shouldn't somebody, be it the banks, or the company, or the authorities come out to inform the public of where is the point of compromise, is it comgateway?

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WHISTLE BLOW: MAS AND BANKS COVER UP THE RECENT CREDIT CARD FRAUDULENT TRANSACTIONS

The Association of Banks in Singapore (ABS) said, "Preliminary investigations indicate that there was no breach of any systems within the banks. All affected customers in Singapore will not be liable for these unauthorized transactions. Banks are working with the credit card associations to investigate these incidences." The real reason why the frauds took place was because ComGateway was hacked and hundreds of thousands of consumers' credit cards and cvc numbers were compromised. Yes, they were stolen because ComGateway, one of the major online concierge/forwarding provider, did not secure the information stored with them. In other words, consumers were open to fraudulent charges not only from Neweb but also any company which the crooks had connection to or sold the information to.

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