Presently, preventing yourself from the ATM scam means hiding the keypad while entering Personal Identification Number (PIN). As technology is upgrading day by day, financial scammers updated their way of doing scams. From massive data breaches to seasonal fraud such as tax scams, it is tough to keep updated with the latest schemes.
Reasons we are providing this blog which contains crucial information as well as some hacks about some latest financial frauds taken place. So, stay tune up with the blog and understand what ATM scams involves and how you can refuse to be a victim.
Common ATM Scam
Most of the individuals say that the massive scams are getting robbed at ATM or having an individual behind you viewing the PIN. But, ATM scams (such as data violation or financial crimes) has been grown more in these years. Now thieves do not need to force or push individuals to withdraw the amount from your account. Nowadays the latest scams in ATM are done via the use of hacking and technology, so youmight not even be alerted that something is not right going on. Click here to get yourself aware about Top 10 Credit card scams of all time.
Below are some common kinds of ATM scams from which you need to be alert in 2019:
Skimming ATM Scam
This kind of ATM scam contains a skimmer device which scammers place on top or within the slot of card. It helps them to record your PIN, or scammers might use a hidden camera or overlay which covers original PIN pad. With the utilization of card number and PIN that scanners record help them to create a duplicate card and withdraw money from the account of the consumer. Despite losing your debit card or get it stolen, you will not realize anything is missing until any unauthorized transaction takes place. So, it is essential to stay alert with ATM skimmers. Click here to learn how to avoid Credit Card and Debit Card Scams.
Shimming ATM Scam
The latest update to the skimming. Despite reading the card number, scammers usually place shimming device inside the ATM to record the chip information. The results get the same as skimming as the scammers use stolen chip data to create another version of your debit card.
Cash out ATM Scams
This kind of scam mainly targets several accounts from the same financial institution. Equipped with the hacked bank employee credentials, the scammers alter account balances and withdrawal limits. The scammers use stolen debit card number being captured from a separate skimming attack which can cashout ATM until it does not have money.
ATM Scam named Jackpotting
There are several kinds of jackpotting attacks mainly; this kind of scam involves mostly getting physical access to the inside machine. The scammers might replace the hardware or install malicious software providing control of cash provision function. Jackpotting is identical to cash out the scam, but it does not need the scammer to get account details of customers or stole the information of debit card.
How to avoid ATM Scam?
As now you have a better understanding of the ATM scams, so far look at the best practices for the security of ATM. The holders of the debit cards are not responsible for unauthorized cash withdrawal. But still, it is not convenient and terrifying to have all your account drained. You need to wait for the matter to get resolves before reaccessing your funds.
Here are some tips which you can follow to preserve your debit card from the scams:
• Do not ever share your card number or PIN with anyone. Moreover, the spouses who used to share bank account need to have a distinct PIN for their debit cards.
• Make sure to scrutinize the ATM before utilizing it. Do not get scared to jiggle card reader or PIN pad. If it looks loose or falls off the ATM, then it might be a sign of the presence of skimmer. Moreover, if there are other features which seems to be anomalous or you have seemed any hidden camera, aware of this to the bank directly or police instantly and do not use that ATM.
• Make a note of the individuals who are ahead of you in ATM line if you see any unusual behavior such as individuals using more than one card to take out cash or an individual who appears to be interfering the machine. Do not use the ATM and call the police instantly.
• Make yourself always aware of the potential phishing messages via email or text that allege from your commercial bank. Any bank never asks for the sensitive (personal) information such as ATM pin or debit card number.
• The same thing goes for the phone call, which claims to be from your bank. If you get this kind of request, call the customer care of your bank to ensure that you are talking with a bank employee instead of a scammer.
• Take the full benefit of every security characteristics which is provided by your bank. Nowadays, every financial institution takes security seriously and offer advanced security features to their customers.
• Most of the banks nowadays provide alerts for some important account activities such as out of state purchases or significant transactions. Ensure that you have signed up to get all these alerts from your bank to monitor your every movement.
• If your debit card might have been lost or stolen or you think that the sensitive data such as card number, PIN or online banking login has been changed then call your bank customer care instantly.
• Just keep a habit of checking your online account activity or getting your monthly statements. If you recognize any suspicious activity, then communicate with your financial institution. Even a minute transaction withdrawal is a warning symptom of scam been before making the significant transaction.
• Are you been decline while you are attempting to make a signature transaction while using the debit card? Then, make sure to try to do a PIN-based transaction from your ATM.
Hope, this blog might have made you aware about all the ATM scams happening around the world. So, stays alerted and avoid all these scams. To protect your bank account login credentials online use privacy protection software. Click here to learn more about credit card scams and how prevent them.