Fraud tracking

Bank Al-Maghrib has set up a device to capture information on cards and cheques fraud, with the aim of having a comprehensive view of detected cases of fraud on these payment instruments.  Such a device would ensure a better monitoring of national fraud and thus reconcile the methods for calculating the official rates of fraud on cash payment instruments issued Bank Al Maghrib and contribute to the development of targeted corrective or preventive actions. 

Cheques fraud:

Cheques fraud occurs mainly in three forms:

  • Falsified cheques: cheques issued as required by the account holder but whose beneficiary or amount was changed after it was intercepted
  • Counterfeit cheques: cheques neither made nor authorized by the legitimate account holder
  • Cheques with falsified certification: check with a falsified certification

Cards fraud:

Cards fraud may have different sources:

  • Falsified or counterfeit card: an authentic payment card is falsified by modifying the magnetic, embossing or programming data. Counterfeiting of cards involves creating a support which gives the illusion that the payment card is genuine and / or likely to mislead a machine or a person as to its substantial quality, but which holds the data of a genuine card
  • Usurped Card Number: the number of a card is raised without the knowledge of its owner or created by "throwing" and used for distant sale
  • Non-received Card: the card was intercepted when sent by the issuer to its legitimate holder. This type of fraud draws attention on some specific vulnerabilities in cards sending procedures

Fraud techniques revolve around the following points:

  • Skimming: A technique that consists in copying, in a convenience store or vending machines, the magnetic stripe of a payment card using a memory device called a "skimmer". Eventually, the PIN is captured visually, by using a camera or hijacking the keypad. These data are later included in the magnetic stripe of a counterfeit card
  • Misuse of the card data: (i) By telephone: the client is contacted by an operator. The latter gains confidence of the client by giving him/her all the personal information, then asks him/her for information about the card, including the CVV2
  • Fraudulent opening of an account: opening of a reference account by providing false personal data
  • Identity theft: card payment using the identity of another person
  • Abusive repudiation : the holder appeals, in bad faith, a  valid payment order  which s/he has himself initiated
  • Hacking automated data systems, servers or networks: fraudulent intrusion on such systems
  • Spinning: fraud technique which consists in using the rules specific to an issuer in creating card numbers to generate such numbers and make payments

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