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On September 15, it was reported that Shanghai Pudong Development Bank and Mastercard are conducting an investigation into a series of unauthorized overseas transactions made with their jointly issued World series credit cards.
Both institutions quickly activated their emergency response systems, aiming to contain the risk and ensure that customers affected by these fraudulent charges are protected from financial loss. Statements from each organization confirmed their commitment to safeguarding their clients.
The joint venture responsible for processing these transactions is primarily tasked with clearing services for Mastercard-branded bank cards across mainland China. Recently, many holders of SPDB Mastercard World Premium and World Elite cards have shared on social media that their cards have been subjected to numerous unauthorized foreign charges, which they neither authorized nor recognized.
These specific cards are designed for use in international transactions, targeting frequent travelers and customers with high overseas payment needs. While credit card frauds are not unusual, this incident appears focused on premium cards, with notably larger sums involved, heightening its sensitivity.
The sums involved range from a few thousand to tens of thousands of Chinese yuan—approximately a few thousand to several thousand US dollars—according to social media posts by affected cardholders. Many victims claim they did not visit suspicious websites, make offline international purchases, or leak their personal information.
One cardholder, who was in New Zealand at the time, reported receiving a bill for a transaction in Brazilian real, involving nearly 20,000 CNY (around USD 2,810) in fraudulent charges over three days.
Industry insiders suggest that if multiple unauthorized charges happen on the same card within a short period, there might be underlying issues such as hacking incidents or data breaches during payment processes.
Under international credit card regulations, if the fraud is not due to user negligence, the issuing bank or card network absorbs the loss. Banks usually reimburse the affected customers upfront and later pursue reimbursement through the card network or insurance providers.
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