These days, consumers use ATMs to quickly take cash from their bank accounts instead of visiting the bank. In the meantime, are you aware that fraud has significantly expanded in this area these days? In light of this, we will explain how ATM fraud might occur and how to prevent it in today's news.
What is an ATM scam?
The card of the consumer who came to withdraw money becomes trapped in the ATM when fraudsters remove the card reader. The con artists will then assist the victims in entering their PIN, and if it is unsuccessful, they will advise them to file a complaint with the bank. From there, the fraudsters will take the card out of the machine and take out all the money from the customer's account as soon as they depart.
How to avoid this fraud?
When taking out cash from the ATM, stay vigilant at all times.
Report any unusual behavior to the bank right away.
Customers may 'cardless cash withdrawals' using their mobile app without needing a card thanks to the feature offered by several banks. Select this option.
Cancel the transaction, get in touch with the bank, and get the card stopped if the card becomes stuck in the ATM.
Never give out your PIN to anybody, and in particular, never take out cash from an ATM when someone you don't know is there.
Additionally, a lot of banks provide services via mobile applications. customers may, for instance, modify the PIN and block or deactivate the card directly from their phone.
What is an ATM scam?
The card of the consumer who came to withdraw money becomes trapped in the ATM when fraudsters remove the card reader. The con artists will then assist the victims in entering their PIN, and if it is unsuccessful, they will advise them to file a complaint with the bank. From there, the fraudsters will take the card out of the machine and take out all the money from the customer's account as soon as they depart.
How to avoid this fraud?
When taking out cash from the ATM, stay vigilant at all times.
Report any unusual behavior to the bank right away.
Customers may 'cardless cash withdrawals' using their mobile app without needing a card thanks to the feature offered by several banks. Select this option.
Cancel the transaction, get in touch with the bank, and get the card stopped if the card becomes stuck in the ATM.
Never give out your PIN to anybody, and in particular, never take out cash from an ATM when someone you don't know is there.
Additionally, a lot of banks provide services via mobile applications. customers may, for instance, modify the PIN and block or deactivate the card directly from their phone.
