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EFCC warns Nigerians against ATM swap scammers

The Economic and Financial Crimes Commission (EFCC) has warned Nigerians to be wary of ATM exchange scammers, saying it has been inundated with complaints regarding the crime.

The EFCC’s Media and Public Relations Officer, Mr. Dele Oyewale, made this recommendation in a statement on Tuesday.

Oyewale said the European Commission’s investigation has linked unauthorized withdrawals from customers’ bank accounts to ATM debit card switching and fraud.

He added that the scammer’s modus operandi was to keep debit cards from the same bank and switch cards under the guise of helping confused bank customers at ATMs.

“They replace cards so quickly that the customer doesn’t notice, and at the same time memorize the pin numbers used when trying counterfeit cards.

“Due to incorrect PIN numbers, these cards got stuck in the machines, and the fraudsters quickly abandoned the victims and advised them to notify the bank, as well as steal the victims’ cards and withdraw them immediately from their accounts.”

“This card exchange typically takes place at any service delivery point, such as a point of sale (POS) terminal or ATM point,” Oyewale said.


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