How To Avoid ATM Fraud. Best Ways To Reduce ATM Fraud.
It is a common question among cardholders who regularly use ATMs to withdraw money. The world is becoming smaller. It’s easy for to import card skimmers, hidden cameras and skimming devices. Fraudsters use hidden cameras and card skimmers to capture ATM card information. When an innocent cardholder inserts the ATM card in the card slot, Fraudsters may secretly capture the data from the magnetic strip of the card. Across the world, ATM frauds have taken place in machines located at the densely populated area as well as the distantly located regions. We never know which ATM is safe to use or not. ATM skimmers capture the data for their benefit. They secretly catch the PIN numbers when the cardholders enter the same on the ATM pin pad. Credit Card brands have introduced EMV Chip-based cards to reduce fraud. Chip-based cards are considered to be more secure than the previous ones. Unfortunately, many ATMs across the world still require cardholders to insert the card into the machine.
In this detailed article, we will let you know how you can reduce ATM card fraud and avoid hidden card readers that may capture data.
PIN With Eyes Wide Open To Avoid ATM Fraud.
At the time of entering the PIN number make sure that no one else is in the ATM room. Most of the times fraudsters stay close to the ATM to look at the pin number. You should also look at the way the web cameras are positioned. As per the banking industry, the web camera should not focus on the keypad of the ATM. If you see a camera concentrated right above the ATM pin pad, then you should avoid using that ATM. If there’s another individual in the ATM room, then ask the individual to stay out till the time you complete the transaction.
Stay For A While To Avoid Fraud.
Do not leave the ATM room immediately after withdrawing the cash. Wait till the time the welcome screen appears on the ATM display. After pulling the money, you can also press the cancel button. Sometimes when we leave the ATM in a hurry then fraudsters may take advantage of this situation. Leave the ATM once you see the welcome screen on the ATM display.
Stay With Alerts.
Never ignore alerts from your bank. Keep your mobile number and email address updated with your bankers. Alerts will help you to get notifications for every withdrawal from ATM. We strongly encourage you to provide alternative phone numbers and email addresses to your bank. Alerts can undoubtedly assist in identifying ATM frauds.
ATM Is Not Coffees Shop.
There is no point in having a conversation with an individual who is unknown to you in the ATM. Fraudsters are most of the times emotionally intelligent and smooth talkers. Avoid talking to unknown individuals inside the ATM.
Pull The Credit Card Skimmer.
Be cautious about any additional or superficial device placed above the pin pad of the ATM. Fraudsters stick PIN capture device on the ATM pin pad. If you gently try to pull the pin pad, then a fake pin pad will come out. Fake pin pads may be pasted over the original pin pad by using double tape. Double tapes cannot handle even a limited amount of force.
Inform The Bank About ATM Fraud.
If your ATM card details are compromised then contact your bank immediately. Ask the bank to either temporarily disable the card or request a permanent closure of the card. Your bank will be happy to ship you a brand new card. Indeed this may attract a cost, but it’s better for your security.
Track Fraud ATM Transactions.
Keep a close check on your financial transactions. You should also monitor these activities in odd timings. Fraudsters perform transactions at the time when the cardholder is possible sleeping. We do not want to say that you need to lose your sleep, but we are only encouraging you to be proactive.
Cash Not Dispensed Call The Bank.
If there is a problem with cash withdrawal and you are not able to get the cash from ATM, but the machine shows you the dispensed message then contact the bank immediately. Banks across the world follow strict guidelines. If you raise the complaint at the right time, then there is a high possibility that you will get your money.
Check Balance To Keep A Check On ATM Fraud
After every successful withdrawal and deposit check the balance of your account. Most banks offer mobile applications for regular monitoring of the banking activities. Some banks also allow the customers to disable the card temporarily by using the mobile app.
Be Paperless To Reduce ATM Fraud
Avoid writing the PIN on paper. Regularly change the ATM pin numbers. Make sure you remember the pin number. Avoid keeping your pin number same as the last 4 of your phone number or vehicle registration number. Avoid keeping your pin number similar to numbers that appear on your email address. Fraudsters may follow these common numbers to withdraw cash.
Be Self-Dependent. Avoid Help To Reduce Fraud.
Avoid taking help of unknown individuals. We strongly encourage you to learn how to use ATMs. Many times fraudsters stand close to ATM and if anybody asks for assistance, the cheats get inside the ATM and start assisting with an intention to steal the morning.
PIN Is Personal Not Public.
Never disclose the PIN number even to bank employees Financial Institutions never ask for this detail over phone or email. Use a reliable antivirus on your computer and mobile devices. Sometimes hackers may try to steal this information from your smartphones and laptops.
Keep An Eye On The ATM Card.
While making payments at retail stores always keep an eye over your debit card. Do not let your eyes go off your card. Fraudsters may use skimmers to scan the card at a retail point of sales locations.
Don’t Multi-Task In ATM
Be vigilant and concentrate on the transaction. Do not do multitasking at the time of performing ATM transactions. Avoid talking on the mobile. It may give the ability to a fraudster to steal your money. Talking on mobile may also confuse you, and you may enter incorrect pin numbers which may result in card blocking.
Report The Card Loss.
If your card is lost or stolen then inform your bank. We also suggest you not to share your bank account information to random people. If you are using a magnetic strip based card, then request your bank to upgrade it to an EMV chip card or an NFC Card. Try to avoid the exposure of your card numbers and account numbers at public places.
We hope that the tips mentioned above will help you to avoid ATM frauds. We recommend you to follow the notification and guidelines of your bank. If you have any questions regarding this article, you can send us an email on [email protected]. Our team will be happy to share details about various services that we can help you with. We assist merchants across the globe in getting High Risk CC Processing and ACH payment gateways.