With the rise in ATM card related scams/fraud, THE SUMMARY has compiled a list of preventive measures you can take so as to not become a victim of ATM scam…
1. Keep your ATM Cards always in your possession: The first thing that could give criminals access to your account is if they can get your ATM card. Never lose sight of your card. If your card is not where you are used to keeping it, alarm bells should begin to ring. If you are in doubt, see number 7 below.
2. Use your Card at a credible POS: Avoid using your ATM cards at filling stations, at Some hotels, Cafes. Basically, places where the POS could be compromised.
3: MasterCard Secure/Verified by Visa: If you transact frequently online, possibility of your card details getting into the wrong hands is high. There are measures designed to minimize fraudulent transactions online. Please go to your bank and register. If you have A master card enroll in the MasterCard secure code. If you use Visa, enroll in Verified by Visa. No one would be able to carry out online transactions unless they can bypass these security measures.
4. Use ATMS inside bank premises: It has been shown that, criminals have the ability to change the keyboard and the ATM card slots on ATM machines. The goal is to skim any card data that is used in those machines.
5. Password Protection: Most cards are password protected anyway. But this is not enough. A thief could simply use some techniques like cameras, spying to see your password. Always make sure that when keying in password, ensure that you shield the keys as much as possible. Someone could be spying. Even the person on the counter could try to spy.
6. Never Give your Card to Anyone to Swipe/ Let your Card out of your sight in a Public Place: If you pay by POS in Restaurant, Hotel, etc, always pay attention to what is going on. If the person collects your card and attempts to swipe himself, I will advice you not to give. Even so, when they take the card and vanish out of sight. Your card details could be skimmed.
If you suspect your card has been compromised, Take the following steps to minimize being defrauded
1. Immediately Report fictitious/suspicious debits on your card: Do not wait to confirm whether it is a bank error. Your ability to recover your money depends on how quickly you submit a report
2. Block your Card Immediately: If you see any suspicious/unknown transactions, the first reaction would be to have your card blocked immediately. There is no reason to wait for your bank to confirm whether it is real or network error. The more you wait, the more the possibilities of losing your money. See one of the posts referenced above.
3. Check your Bank Statement: If you have access to online banking facilities, immediately log in to check and cross check your debit alerts. This could help throw some light on the situation
4. Make a Police Report: Proceed to make a police report. Explain clearly what happened. Provide a much details as possible to enable the police undertake investigation
5. Always Be Vigilant: You are your own bank with your ATM cards. Don't be Complacent!