Credit Card Fraud Prevention in Malta: What You Need to Know

As a credit card holder in Malta, it’s essential to be aware of the measures you can take to protect yourself from credit card fraud. With the increasing threat of fraudsters replicating your card details and making illicit payments or cash withdrawals, knowing what to do to prevent such scams is crucial.

Your Responsibilities as a Cardholder

According to local regulations, as a cardholder, it’s your responsibility to take all reasonable steps to keep your card safe and the means that enable it to be used, such as your personal identification number (PIN) or other code. You are also obligated to inform your bank immediately if you notice that your card has been lost, stolen, or is being used without your authorization.

Failure to notify your bank in a timely manner may result in a maximum limit of €150 for compensation for losses sustained due to theft or loss of the card.
However, if you can prove that you were grossly negligent or fraudulent in contravention of the terms and conditions of your framework contract, you may not be eligible for compensation.

Enhancing Security with Chip and Pin Cards

Banks in Malta have been introducing chip and pin (EMV compliant) cards as part of a European drive to make all cards SEPA compliant. The SEPA Cards Framework introduces a new standard that allows cardholders to pay and withdraw cash throughout the SEPA zone with ease.

All SEPA compliant credit and debit cards will be required to have an embedded chip to improve security and comply with EMV standards.
With a SEPA compliant card, consumers can make payments and cash withdrawals anywhere in the SEPA zone with the same ease as in their home countries.

Staying Protected

To stay protected from credit card fraud in Malta, it’s essential to:

Be aware of the terms and conditions applicable to your card and keep yourself informed about any changes.
Always keep your PIN secret and educate yourself on the use of chip and pin cards at retailers.
Take these steps to significantly reduce the risk of credit card fraud in Malta and enjoy a secure and convenient payment experience.