Chip and PIN Coming to Dubai

Decision to switch based on recent hack and rise in card related fraud.

Many banks across the UAE experienced a concerning rise in the instances of card related fraud in the latter part of this year.

Much of the fraud involved card “skimming” which is when a device is attached to an ATM or a Point-Of-Sale card reader and details are copied from the card’s magnetic strip. Details copied would include the card’s PIN number making it possible for fraudulent transactions to be made.

To help combat this Lloyds TSB Middle East has taken the decision to launch Chip and PIN cards – a more protected system for cards.

Chip and PIN cards contain a chip, making them more difficult and more expensive to counterfeit. Signatures can easily be forged and are often not checked carefully. So entering your PIN at a till instead of signing a receipt helps to prevent someone else from using your card.

One of the World's biggest banking groups, today announced that the bank will launch its Chip and PIN offering in January 2009. Following the increase in card-related fraud activity across the UAE, Lloyds TSB Middle East has accelerated the launch of its Chip and PIN credit and debit cards to ensure their customers' banking experience is even more secure.

"We are committed to delivering excellent customer service and protecting our customers", said Richard Musty, Consumer Banking Director. This is why we have brought forward the launch of our Chip and PIN credit and debit cards. These cards will offer our customers a more secure way to pay and improved protection against card-related fraud. Furthermore, our sophisticated fraud monitoring system will give us an early warning signal to potential fraudulent activity so we will be able to proactively tackle it.

Cards will be issued to existing customers on a renewal basis

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