Avoid ATM Fraud With These 9 Tips

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Money is gradually becoming virtual these days. The risk and inconvenience of carrying money all the time has forced a lot of people to switch to cards and other means of completing transactions. While resorting to other methods of payments can curtail the risks to some extent, they are by no means foolproof.

With the latest rise in financial crimes where thieves set up skimming devices to steal your money, the need to be aware of such crimes is paramount.

Below we give some tips on how you can protect yourself from ATM fraud:

  1. Hide your password – most thieves use video devices hidden inside booths to collect your password. Type in your password discretely.
  1. Insert your card only when the ATM asks – swindlers often jam the machines to create confusion. Don’t hurry inside the booth; wait for the ATM’s instruction.
  1. Examine the card scanner slot – shimmy the card scanner slot. Skimming devices are often false panels that can be detected and will come loose.
  1. Use familiar ATMs – ATMs installed in dimly lit spots or used late at night could be more prone to fraudulent activities. ATMs under video surveillance can be safer.
  1. Limit your visits – the idea here is simple: the less you take out money from ATMs, the slimmer the chances of being a victim of ATM fraud.
  1. Examine the ATM – Make sure a card slot is not tampered. Scratches, marks, adhesives or tape residues indicate tampering.
  1. Check your balance regularly – save your card receipts and check your billing statements and report any unusual withdrawals to your bank immediately.
  1. Do not accept assistance from random people – Avoid any sort of external help and don’t allow anyone to interfere with your transaction.  Thieves sometimes pose as bank officials by offering assistance or interfering with your transaction.
  1. Do not leave your card behind – if your card is trapped, immediately call the bank and stop the card number instantly to cancel the card before leaving the ATM.

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