[IMGCAP(1)]

Banks in Lebanon are recalling debit and credit cards and are replacing them with new ones as part of a preemptive initiative against card fraud, the Lebanese newspaper Daily Star reports. According to the report, banks have sent phone text messages and e-mails to their customers "asking them to go to branches and replace their cards with new ones." Banks also have asked customers not to use their cards in Turkey, Romania, Mexico and Russia, where they say fraud gangs are operating. Banks contacted by CardLine Global offered no immediate comment. A spokesperson for the Association of Banks in Lebanon, a trade group, says banks might have initiated the recall under the theory it is "better safe then sorry." Consumers in Lebanon hold nearly 500,000 credit and debit cards, the association says.


Subscribe Now

Authoritative analysis and perspective for every segment of the payments industry

14-Day Free Trial

Authoritative analysis and perspective for every segment of the industry