I REFER to last Friday's letter by Madam Tan Shock Ling, 'Here's what happened'.

Under Citibank's terms and conditions, card members are not liable for unauthorised transactions made after they have reported the loss of the card. Card members are liable for all unauthorised transactions made on the card before the bank is notified of the loss.

On a goodwill basis, we offered to waive a sum of $1,425, as well as a three-month interest-free instalment repayment schedule for the remaining $4,275 charged to the card.

While the industry has strong fraud management practices in place that include prevention and resolution measures, safeguarding customer accounts is a collective process involving banks, merchants and card holders.

Adam Rahman
Corporate Affairs Director
Citi Singapore

This article was first published in The Straits Times.