EFCC warns public about ATM swap frauds happening at points of sale and others
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The Economic and Financial Crimes Commission, EFCC, has warned the public about a new method of financial fraud that involves exchanging cars at an ATM.
A statement released by Dele Oyewale, spokesperson of the commission today, November 27, says the modus operandi of the fraudsters involved in this nefarious practice involves holding a debit card from the same bank and under the guise of helping a confused customer of the bank in any ATM. , changes the card in such a hurry that the customer doesn’t notice and at the same time memorizes the pin used in the fake card attempt.
”These cards get stuck in the machine due to a wrong PIN and the fraudster quickly abandons the victim, advising them to go to the bank while stealing the victim’s card to make immediate withdrawals from the account. This exchange of cards normally takes place at any point of service provision, such as Points of Sale, POS, terminals, ATMs, among others. The fraudulent practice is gaining momentum across the country and the banking public is urged to be more cautious in the use of debit cards.” Oyewale said.
In light of the above, the EFCC has given the following tips to help Nigerians prevent this type of financial fraud.
”1. Cards must be kept in plain view or in a safe place. Whenever you get your card back after making any payment, make sure it is really your card and not just a similar one.
2. Regularly check your bank statements for any unknown transactions.
3. Set transaction alerts to monitor any activity on your accounts or with your bank card.
4. Cover the keyboard with your hand or body when entering your PIN at POS/ATM terminals.
5. Do not be in a hurry to make payments or withdrawals and only request assistance from bank employees.
6. Call your banks to immediately block your ATM cards when your cards get stuck in ATM machines or whenever you observe any irregularity.
7. Make sure you know your bank’s ATM offline lock code and use it quickly whenever it is lost or stolen.
8. Dial the USSD code *966*911# and follow the pop-up instructions to block your ATM card instantly.”
Oyewale added that the EFCC will not relent in safeguarding personal, corporate and national finances in its bid to rid our nation of all forms of economic and financial crimes.
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Source: www.lindaikejisblog.com