Banking

Tips to prevent yourself from ATM Frauds

With increasing multiple cases of ATM frauds, it has become highly important to prevent your details of ATM and debit card. Skimming is a common way of stealing money nowadays. When a person steals your Personal Identification Number (PIN) and account number with the help of the device called skimmer, the whole process is known as Skimming. For around 10 years, skimming has been taking place and has resulted in money loss of many people. There are two types of devices which are used to catch your data. One of the devices is placed close to the place where you swipe your card which reads the magnetic stripe on your card automatically which contains your account number in it. The other device is a hidden camera which is placed in the position from where the PIN number can be captured and after getting these data, the thieves copy it to a blank card and utilize it to get access to your money. To be assured that you won’t become a victim to any frauds of ATM in future, read the preventive measures which you need to take for it below:

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Here are some tips to prevent yourself from ATM fraud:

  • Ensure that no one else is in the ATM booth: The fundamental rule of withdrawing cash from an ATM is to ensure that no one else is inside the ATM booth. If other customers are inside it, wait for them to finish there transaction. If people are strolling, ask them to leave the ATM booth.
  • Look for Hidden Cameras: In case, you are in a great hurry to withdraw cash, take a minute to search around for any hidden cameras around the machine especially above it, before beginning to make your transaction. Usually, Fraudsters put hidden cameras above to read your ATM pin for the purpose of making fraud which includes cloning of your card by using very cheap equipment. At least make sure to cover the keypad with your hand before punching your pin.
  • Under the Flaps: Some of the banks have taken few steps into consideration for dealing with the danger of hidden cameras by installing a ‘PIN shield’ which shields both sides of the number pad, where you use to punch your PIN. Despite that, fraudsters have decided a new way to the go to the whole other level by installing hidden cameras under the flaps. So, always check for any hidden cameras by putting your hands under the flaps by taking a few seconds. In case, you feel like something is wrong or you catch a wireless camera that’s visible to your eyes, avoid using that ATM altogether.
  • Unfamiliar ATM: There are circumstances where you have to go to an ATM that not familiar to you when you need to do a transaction urgently. You might be in any other city or in any other part of town for purchasing any specific item. An improved practice would be required as compared to using ATMs that are close to your home or office, or those besides your bank branch. In case, you are in remote street corners and you want to do a transaction, you should avoid using those ATMs which are poorly maintained or are not in good condition.
  • Check the Card reader: Before you start any of your transactions, be careful while checking the card reader. If something seems faulty, pull the card reader hard and check if a skimmer is attached to it or not. Fast forward to 6:02 to have the information about the working of card skimmers.
  • Check the Slot: Before you start any of your transactions, carefully check the slot of the ATM machine too from where the cash comes out. If something seems faulty, ignore using that ATM machine.
  • Do not give your card to anyone: There are some types of situations where you are caught up in some work and need cash immediately. In such a case, you often give your card to someone in your family for the purpose of withdrawing some money. Experts of banks and security have given advises to the customers for not giving your card and PIN information to anyone, even if whatever your relationship is with that individual. According to a current decision by a Bengaluru consumer court, letting your friend or family member to have access to your ATM PIN is a major violation. Your ATM card cannot be transferred now to any other person other than your own self.
  • Regular Checking: Check your bank balance on a daily basis without skipping a single day. Banks are committed to sending an SMS informing about the number of money justify in your bank account after completing a transaction. Also, now most of the banks have their own apps, through which you can uninterruptedly monitor your balance.
  • Speak to a bank official for assistance: For those people who use ATMs for the first time, finding an easy way for taking assistance like from someone standing behind you in a line is not safe as there are many fraudsters who stand around ATMs acting like helpful and sincere citizens. However, avoid taking help from outsiders. There are sufficient details present online on how to transact, and if you immediately need assistance, get help from a bank official. Some fraudsters use to act like they are being helpful, but use your card, memorize your PIN and then exchange your card with a fake one before you realize it.
  • Always hide the details: Stand as near as possible to the ATM machine while doing any transaction by using your body to conceal all the information you insert into the machine. While this may seem very common advice, most of the users avoid it.
  • Count your cash: After finishing your transaction, immediately count your cash and click or press the ‘Cancel’ button or wait till the ATM screen displays the ‘Welcome’ page before leaving. This secures the completion of your transaction.
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