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Nov 26, 2009
Theft victim has to pay
Banks' final discount offer means victim still has to fork out $12,825
<!-- by line --> By Lim Wei Chean
<!-- end by line -->
<!--background story, collapse if none--> Thieves used cards for Rolex watches. MADAM Tan Shock Ling was slapped with a $17,100 bill after three of her credit cards were stolen and used to buy three Rolex watches. The watches, valued at $5,700 each, were bought at a Chinatown watch shop. The banks said then that Madam Tan was at fault for not keeping her cards secure. One of the thieves has been caught and convicted.
Banks changed the way they deal with liability in the case of lost or stolen cards, after Madam Tan's case created waves following a report in The Straits Times. Starting this month, there is a $100 limit on liability, provided the consumer has not acted fraudulently or negligently. But the 39-year-old human resources administration manager has not benefited from that. -- ST PHOTO: DESMOND LIM
<!-- story content : start --> SHE was a victim of a crime. But even though one of the perpetrators has been caught and put behind bars, Madam Tan Shock Ling is set to pay a hefty price for the shopping spree that credit card thieves went on. Madam Tan will not benefit from the changes which banks have made in the way they deal with liability in the case of lost or stolen cards - changes which came about partly as a result of her case. The three banks that issued her with the credit cards that were stolen and used by thieves have told her that she is liable for 75 per cent of the $17,100 bill chalked up.
Read the full story in Thursday's edition of The Straits Times.
[email protected]
Home > Breaking News > Singapore > Story
Nov 26, 2009
Theft victim has to pay
Banks' final discount offer means victim still has to fork out $12,825
<!-- by line --> By Lim Wei Chean
<!-- end by line -->
<!--background story, collapse if none--> Thieves used cards for Rolex watches. MADAM Tan Shock Ling was slapped with a $17,100 bill after three of her credit cards were stolen and used to buy three Rolex watches. The watches, valued at $5,700 each, were bought at a Chinatown watch shop. The banks said then that Madam Tan was at fault for not keeping her cards secure. One of the thieves has been caught and convicted.
Banks changed the way they deal with liability in the case of lost or stolen cards, after Madam Tan's case created waves following a report in The Straits Times. Starting this month, there is a $100 limit on liability, provided the consumer has not acted fraudulently or negligently. But the 39-year-old human resources administration manager has not benefited from that. -- ST PHOTO: DESMOND LIM
<!-- story content : start --> SHE was a victim of a crime. But even though one of the perpetrators has been caught and put behind bars, Madam Tan Shock Ling is set to pay a hefty price for the shopping spree that credit card thieves went on. Madam Tan will not benefit from the changes which banks have made in the way they deal with liability in the case of lost or stolen cards - changes which came about partly as a result of her case. The three banks that issued her with the credit cards that were stolen and used by thieves have told her that she is liable for 75 per cent of the $17,100 bill chalked up.
Read the full story in Thursday's edition of The Straits Times.
[email protected]
