This Is How You Can Protect Yourself From ATM Fraud During Your Next Trip

Have you ever come across the word ‘skimming’? No, it has got nothing to do with hot chocolate. Skimming is a kind of ATM fraud, and this is a significant threat that’s plaguing around the globe. A man was recently put behind bars in China for stealing more than 120,000 Yuan (that comes to around £11,424). He did this from the accounts of other people’s bank accounts using an ATM in Beijing. How did he do that?

He had installed card skimming devices as well as cameras across various ATMs in Beijing since the year 2007, gathered the stolen data, and went on to create counterfeits. This is something dangerous. Therefore, you need to understand what skimming is all about and how to deal with it.

How Does Card Skimming Work?

The most common type of skimming takes place when you make use of an ATM that is compromised. This means, not noticing someone attaching a false front to the card reader. After capturing the card number, it sends the information wirelessly to the person who placed the card reader. A hidden camera, in the ATM, will record your PIN the moment you enter it. As an alternative to this, criminals might implement a keypad overlay to the machine. This fake keypad matches up with all the buttons on the original keyboard.

This keypad overlay will record the PIN once you press it, and then the information will be sent to the wirelessly to the concerned fraudster. What’s next? These fraudsters will come up with a copy of your ATM card and use it by applying your PIN to withdraw money from your bank account. The next time when you will be reaching out for your ATM card and swiping it, you will have nothing left. There are a few techniques to prevent your money from getting stolen. Read on to know more about these ATM fraud prevention strategies.

Protect Your PIN

You probably don’t need to be told that you must never carry your PIN with you. There are high chances of loss or theft. Refrain from storing your PIN in your cell phone like you save a contact number, and even if you do, please don’t keep it under the name ‘Pin.’ It will be very foolish of you to do that. Likewise, never forget to protect your pin when you are swiping your card at the ATM.

When you enter your card and press the pin, make it a point to cover it with your hand. Never give it to anyone at any cost. There have been cases when fraudsters dress like bank officials to keep an eye on people who enter the ATM to withdraw money.

Choose an ATM Carefully

Nothing can be better if you use the ATMs inside a bank or those which you have access to, frequently. Why is that? Well, it will be easy for you to notice if the keypad or the card inserting device is compromised with or any other changes that might have taken place. In case you need to reach out for an ATM during night time, make sure that you stay away from those areas which are not properly lit. Also, choose an ATM that is safe and under CCTV surveillance.

Shops Are a Great Choice If You Want Cashback

Nowadays, visiting an ATM each time has become risky. Hence, making as few visits as possible is good. On the contrary, you may attempt grabbing a cashback from a retailer who has a good reputation in the market. A majority of the supermarkets are offering cashback, and you seriously don’t need to spend a lot of money on your purchase to lay your hands on your cash.

Always remember that you need to protect your ATM PIN from people who have a constant eye on your details. Never leave your card unattended or with anyone else. In other words, carry it with you at all times. In case of theft, report it to your card, providing a bank immediately. Also, make sure you inform the cops about it. Keep a watch on your credit score as well to ensure that no one has stolen your details and your identity as well.