Important Security Notification: Magic Pen

A letter from Bank suits for All Banks

Dear Customer

In our effort to provide you with an environment of safe and secure banking, we would like to inform you about a new “Magic Pen” method used by fraudsters recently, posing as bank representatives to dupe customers.

These fraudsters ask customers to complete the loan / credit card applications and provide a blank signed security cheque wherein the imposter fills up the details on the cheque in their presence using his magic pen.

Subsequently, the details of beneficiary and amount in the cheque are altered since it was filled up with the magic pen, which allows the details entered to be erased without a trace.  The cheque is then encashed from various banks using third parties.

What should you do if you are approached by a representative of a bank selling a credit card or personal loan?

  • Please ask the representative to identify himself and check his photo ID card issued by the bank.
  • Do not issue a blank security cheque.  Please fill in all details in the cheque including name of the beneficiary (which should be the bank’s name) and amount with your own pen.
  • Do not use the pens provided by the other party to fill in details of the cheque
  • If in doubt contact the concerned bank on their land line and confirm that the representative indeed works for the bank he claims to represent.

Be aware. Be Secure.

Have a safe banking with you.


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