From Our Correspondent
The Economic and Financial Crimes Commission (EFCC) has cautioned Nigerians to be wary of ATM swap fraudsters as the commission receives a barrage of complaints from the public about it.
Mr Dele Oyewale, the EFCC Head of Media and Publicity, gave the advice in a statement on Tuesday in Ibadan.
Oyewale said EFCC’s investigations have linked unauthorised withdrawals from customers’ bank accounts to Automated Teller Machine (ATM) day Debit Card swapping or fraud.
“The modus operandi of the fraudsters involved keeping a debit card of the same bank.
They then swap the card in the guise of helping a confused bank customer at any ATM point.
“They swap the card in such a hurry that the customer would not notice. At the same time, the fraudster memorises the pin used in trying the fake cards.
“This card gets stuck in the machine due to the wrong pin and the fraudster quickly abandons the victim.
“He would then advise the victim to report to the bank and run away with the victim’s card to make immediate withdrawals from the account.
“This card swapping typically happens in any service delivery point such as Point of Sale (POS) terminals and ATM points,” Oyewale stated.
He said the fraudulent practice was gaining momentum across the country. EFCC enjoins the banking public to be more circumspect in the use of debit cards, he added.
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The commission listed some useful tips to avoid further financial losses.
These include keeping cards in sight or in a safe place after making a transaction and ensuring that the card actually belongs to oneself.
“Regularly check your bank statements for any unknown transaction.
Setting transaction alerts to monitor any activity on your accounts or with your bank card is also vital in stopping fraudsters.
“You could also cover the keypad with your hand or body when entering your PIN at POS terminal/ATM machines.
“Never be in a rush to make payments or withdrawals and request assistance only from officials of the bank.
“Call your banks to block your ATM card immediately if it gets stuck in the machine or you observe irregularity.
“Ensure you know your bank’s ATM offline blocking code and quickly use it whenever you misplace your card.
“Dial the USSD code *966*911# and follow the pop-up instructions to block your ATM card instantly,” the Commission advised.
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