How To Protect Your Card In Singapore

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1 FOR IMMEDIATE RELEASE Citibank Singapore Ltd 19 June 2012 CITIBANK EMPOWERS CUSTOMERS TO PERSONALISE SECURITY PREFERENCES FOR ATM AND CARD PAYMENTS IN SINGAPORE The new security enhancements across ATM, debit and credit cards give customers the power of control and choice, and the flexibility to customise their card security preferences at anytime for maximum security These new measures will make Citibank cards one of the most secure in the industry Customers are now empowered to personalise their security preferences for ATM, debit and credit card payments in Singapore with the introduction of a series of enhanced security measures by Citibank Singapore Limited. The new security measures, which are effective today, make Citibank s cards one of the most secure in the industry. This comes as consumer and industry demand for enhanced card security in Singapore continues to grow. Citibank s new market-leading card security measures include the following: For the first time in Singapore, customers will have the flexibility to customise their card security preferences on demand by switching on or switching off their credit cards at any time for maximum card security; Activation and deactivation can be done instantly and conveniently at any time of the day via the widest range of channels, including on-demand SMS, internet banking, self-service phone banking, CitiPhone hotline and other touchpoints including branches; Customers will need to activate overseas ATM access and point-of-sale transactions for debit and ATM cards; Credit card and Ready Credit customers can also opt to have overseas usage deactivated for point-of-sale transactions and ATM access; Customers have the additional flexibility to choose either time-bound or perpetual activation for overseas usage; Customers will need to activate all new ATM, debit and credit cards which will be sent out deactivated from 1 July Mr. Han Kwee Juan, Chief Executive Officer of Citibank Singapore Limited said: Protecting our customer accounts and information has always been a top priority. With the increasing interest and demand for greater security in ATM and card payment infrastructure in Singapore, we are pleased to introduce market-first security enhancements that put the power of control and choice in the hands of the customer. 1

2 Customers are now empowered to personalise their security preferences, making Citibank cards the most secure in the industry, and further enhancing the complete suite of security measures that we already have in place, such as Citi Alerts, added Mr. Han. Citibank s new security enhancements exceed the industry s requirements for a stronger ATM and card payment infrastructure, which all banks have to implement by 30 June. Prior to the enhancements announced today, Citibank already had several measures in place to safeguard transactions made by its ATM, debit and credit cards. These include SMS and alerts service called Citi Alerts where customers get transaction alerts for their credit cards or banking accounts, including first-usage, cheque, GIRO, cash withdrawal and online payment transactions. Customers have the flexibility to customise the threshold for each alert. Citi Alerts was launched more than two years ago. In addition, empowering customers to personalise their security preferences is part of the bank s strategy to be the premier digital bank, demonstrating our ongoing commitment to enhancing the banking experience of our customers. This comes on the back of Singapore s first instant online installment loans; the Citibank Clear Platinum, Singapore s first credit card to integrate social networking as a key core feature; the first 24-hour online e-chat service, as well as the enhanced Citibank Electronic Statements, Citibank Online and Citi Mobile platforms. Summary of Citibank s card security enhancements 1. Flexibility to activate or deactivate credit cards Customers have the option to switch off (deactivate) or switch on (re-activate) their credit cards, including local and overseas point-of-sale transactions, online purchases and cash advance. They may contact the bank to do so immediately and at any time via a wide range of channels. Applicable to: All credit cards Note: For our customers convenience, recurring payments on accounts (e.g. monthly bills for telecommunications, utilities etc) will not be impacted by deactivation and will continue to be paid on a monthly basis. 2. Widest range of activation / deactivation channels for maximum flexibility Customers will be able to activate or deactivate the above card features at their convenience anytime and anywhere via a wide variety of channels from 1 July. These include 24/7 channels such as: These features are unique to Citi and exceed the industry requirements. 2

3 SMS Citibank Online via express login or post-login Self Service Phone Banking at CitiPhone at Branches & other touchpoints Citi Mobile (Available from 4 th Quarter of 2012) 3. Deactivation of overseas ATM cash withdrawal and point-of-sale transactions The overseas ATM cash withdrawal function and point-of-sale transactions on ATM and debit cards will be deactivated as a default status. Customers who wish to retain these features and use their ATM and debit cards overseas may contact the bank to re-activate their cards. Customers can choose either time-bound or perpetual activation for overseas usage. For the time-bound feature, the overseas usage will automatically be deactivated at the end of the time period set by the customer. Customers have flexibility to select their preferred time periods with a minimum period of one day. Applicable to: Debit cards linked to current/savings accounts, ATM cards Exclusions: Customers with at least one foreign transaction from 1 November April Deactivation of overseas transactions for credit cards Customers have the option to deactivate the overseas point-of-sale transaction feature and ATM cash advance access for all credit cards. Customers who wish to deactivate or re-activate this feature may contact the bank to do so for additional security. Applicable to: Credit cards and Ready Credit cards Note: When customers choose to deactivate the overseas point-of-sale transaction feature for their credit cards, the overseas ATM cash advance withdrawal feature of their card will also be automatically deactivated. 5. Deactivation of new cards All new cards (new accounts, replacement and renewal cards) will be sent out deactivated from 1 July Customers will need to contact the bank to activate these cards before using them. These features are unique to Citi and exceed the industry requirements. 3

4 Applicable to: Credit cards, debit cards and ATM cards Exclusions: New cards that are issued at branches where identity verification will be done will be activated. Note: If customers forget to activate their cards and attempt to make a transaction, they will receive a reminder to activate their card. 6. Cessation of domestic magnetic stripe transactions for debit and credit cards Transactions will be made with credit cards more secure EMV smart card chip technology (where retailers dip the card into the payment terminal). All domestic point-of-sale transactions via the magnetic stripe (where retailers swipe a card at the payment terminal) for all credit cards will no longer work. This means that customers will no longer be able to pay for their Singapore transactions using the magnetic stripe feature on their cards. Applicable to: Debit and Credit cards Exclusions: None ###### Citi Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Through Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at Citi Media Contacts Caren Lee +(65) (65) Grace Tan +(65) (65) caren.lee@citi.com grace.tan@citi.com 4

5 APPENDIX SUMMARY OF CITIBANK S SECURITY MEASURES Activation / Deactivation of ATM, debit and credit cards Please see Citibank s card security enhancements on page 2 & page 3. SMS Alerts Citibank has been offering Citi Alerts, a free SMS and alerts for the past two years where customers receive instant alerts when there are activities or transactions on their credit cards or banking accounts including cheque, GIRO and online payment transactions. All Citibank cardmembers using new cards to make purchases for the first time will be alerted via an SMS message and . Customers receive instant transaction alerts for local and overseas cash withdrawals at ATMs and any debits made to their banking accounts. Customers also have the ability to get their account balances and last four transactions information on their card and banking accounts via SMS ondemand. EMV Citibank places the highest priority on the security of transactions performed using our credit cards. All our credit cards contain the high-security DDA (dynamic data authentication) - EMV chip. We will be investing in a higher level of security by incorporating EMV smart card chip technology across all our cards, including ATM and debit cards. Online credit card / debit card transactions 3D Secure In 2005, Citibank Singapore was the first in Singapore that is 3D Secure-enabled (through Verified by Visa and Master SecureCode). 3D Secure authenticates the cardholder's identity at the point of online purchase. An additional Password is required to be keyed in before the customer can check out and make the purchase. This ensures that only the cardholder can make the online purchase, as only the individual will know the password. One-Time Password Citibank customers also receive a One-Time Password via SMS for all online transactions 5

6 Online banking Two Factor Authentication (2FA) This consists of the user's log-on PIN (static) and a One-Time PIN (OTP). OTP is a dynamic pin that is randomly generated by our server, which is sent to the user's mobile phone or OSD (online security device). Together with Citibank s Dynamic Pin Pad, 2FA provides protection against unauthorised access of online account information and from various forms of online fraud. These features ensure that only account holders have access to their accounts online. Online Authorisation Code (OAC) When setting up account payees online, customers will need to activate payees using the OAC sent to their mobile phones. ATM Anti-skimming devices Citibank conducts regular physical checks on our ATMs for skimming devices. Anti-skimming devices and PIN pad shields have been installed on all Citibank ATMs. EMV As an ongoing enhancement of Citibank s security infrastructure, it is looking to convert all its ATM cards and machines to include the EMV smart card chip. Other measures There are several other security measures in place to protect customer transactions and accounts. These include CCTV in Citibank s branches and at Citibank ATM locations. 6

7 activation / deactivation channels Activation Deactivation Channel 2 way SMS Credit Ready Credit Debit ATM Credit Ready Credit Debit CBOL Express Login CBOL Post Login ATM IVR Citiphone Overseas Activation Channels Overseas Activation & Deactivation (including timebound) Channel Credit Ready Credit Debit ATM 2 Way SMS CBOL Express Login CBOL Post Login IVR Citiphone Note: - We will evaluate and launch these progressively 7

8 Summary of Citi Alerts notifications Alerts For Banking Account(s) Alerts Definition Schedule Debit Transaction Alert# This alert notifies you when there has been a transaction on your debit card Real-time ATM Cash Withdrawal On Citibank Debit or Citi# Online Payments And Transfers On My Banking Account(s)# Account Debit Alert# Account Credit Alert# Weekly Banking Account Balance This alert notifies you when there is a cash withdrawal from ATM machine on your account. For your transaction security, alerts will be triggered for ATM withdrawals in selected overseas countries irrespective of your pre-selected amount. This alert notifies you when there is a payment or transfer done through Citibank Online or Citi Mobile. For your transaction security, this is a mandatory alert and will be sent by default. This alert notifies you when there has been a debit transaction on your banking account(s), excluding the Citibank Debit transaction and ATM Cash withdrawal. Please note that we will automatically send you alerts for any amount of cheque clearing. For your transaction security, this is a mandatory alert. This alert notifies you when there has been a credit transaction on your account. This alert will be triggered every week on Fri with your latest account balance. Real-time Real-time Once the debit transaction has been processed Once the credit transaction has been processed Every Friday Account Alert Overdrawn This alert will be triggered when your account has done into a negative balance. Login to Citibank Online or call our 24-Hour CitiPhone Banking at (65) to top up your account. First Cheque Alert This alert will be triggered when the first cheque has been issued from your account. Cheque Bounce Alert This alert will be triggered when a cheque you have issued has bounced. Returned Cheque Alert This alert will be triggered when a cheque you have issued has been returned. 8

9 Alerts For Credit and Ready Credit Account(s) Alerts Definition Schedule Credit Transaction Alert# Notifies you each time a transaction of more than a specified amount is made to your credit card. Real-time 95% Credit Limit Reached Alert Credit /Ready Credit Payment Received Alert Credit /Ready Credit Payment Due Alert Notifies you when you exceed 95% of your credit line. Notifies you when your Citibank Credit/Ready Credit is due for payment. This alert will be triggered 7 days before your statement due date. This alert notifies you when there has been a transaction on your debit card Real-time 7 days before statement due date. Alerts For Investment Account(s) Alerts Definition Schedule Premium Account Expiry Status Alert Notifies you of the expiry statues of your Premium Account. Applicable only to existing Premium Account customers. This alert is automatically activated for all customers. Time Deposit Maturity Due Alert Notifies you 4 business days before your Time Deposit is due to mature. Time Deposit Credit Alert Notifies you when your Time Deposit has matured and the proceeds haven been credited to your Citibank Checking or Savings account.. 9

10 Summary of Instant Connections Features Citibank Online Citi Mobile Citi Alerts Check your account balance View your last four transaction details Funds Transfer Bill Payment View your available credit line and outstanding credit card bill View your latest credit card account details View FX Rates Receive an alert when there is a transaction on your credit card Receive an alert when your cheque has been cleared Receive an alert when there is a debit/credit in your account Search for the best dining deals from Citibank Gourmet Pleasures Branch/ATM Locator 10