Cash machines are some of the most attractive points to
fraudsters and robbers. Physical ATM thefts happen almost as often as
electronic cashpoint scams such as ATM skimming. ATM skimming is particularly a
serious threat.
It involves overlaying a genuine cash machine with a data
scraping device. When you enter your card data, the device can record your
personal details.
Skimmers also use a hidden camera at the ATM. And it is not
to provide genuine 24/7 ATM monitoring.
The camera is supposed to record your PIN code as you enter
it to be used later to break into your account.
So, always inspect the ATM’s keyboard, card holder, and
in-display information to see if anything is off. Look around to spot any
hidden cameras, too.
If you notice these red flags, feel free to walk out and
look for a more secure cash machine.
But avoiding ATM skimming is only one way to protect
yourself from ATM fraud and theft. Here are ten more.
1.
Keep your ATM security items to yourself
Avoid revealing your card number and CVV code to anyone.
That includes people you know, such as family, friends, and
work colleagues.
If anyone calls you from your bank asking for card details,
you can read the card’s number but never the PIN or CVV code around the back of
your card.
2.
Pull up to the ATM ready
This applies whether you are using a drive-up, in-store, or
standalone ATM.
You do not want to allow any potential assailants to sneak
up and catch you off-guard. So take out your card before you arrive at the cash
machine, have your PIN ready to go, and finish up as quickly as you got in if
you can.
3.
Count your blessings away from the cashpoint.
Avoid isolated ATMs
Avoid counting cash at the cashpoint.
Take it.
Avoid displaying the wand of cash you have on you.
Put it in your pocket or bag before turning around to leave.
Only count it where you are in safe company or inside your
car with all windows and doors locked.
4.
Prefer to use an in-store cash machine
This is especially handy when you want to cash out at night,
in an unfamiliar place, or away from onlookers.
In-store ATMs are also great because you can take cash out
and do your shopping on-site. No outsiders will know how much you withdrew,
paid, and got left over in cash.
5.
Shield your ATM PIN code
Use your other hand to block the ATM keypad while you enter your
card’s PIN.
Or, use your body to prevent onlookers or hidden cameras
from capturing your entered security codes.
6.
Watch out for onlookers
If you notice someone following your moves, don't stop at
the nearest cashpoint.
Try to lose them first before taking out cash at a public or
in-store cash machine. You do not want to raise any potential burglar’s
interest by incentivizing it with cash.
7.
Withdraw elsewhere if you suspect something is
out-of-place
See if you can notice these red flags:
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That’s an ATM you do not want to use.
8.
Check your transaction history often
That way, you can catch any activity you deem suspicious.
And, in case the worst comes to pass, the proactive approach
will help you catch the abnormality before fraudsters can drain out your
savings.
9.
Report lost ATM cards ASAP
Anyone can collect a stolen or lost ATM card and conspire to
misuse it.
They may not even need your ATM PIN to commit fraud against
your checking account.
If the person who collected the card compromises your bank’s
internal staff, they may successfully swindle you.
So, if you can’t find your cash machine card, call your bank
immediately to block the card from transacting any business until you can
re-activate it again.
10. Know your rights
Take the Electronic Fund Transfer Act, for example.
It protects both debit and credit card users from liability
in several different cases.
For example, reporting your card lost before it is used somewhere
can protect you from taking responsibility for any unauthorized transactions.
In that case, you can stand protected from losses in case
your bank doesn’t take quick action to protect your checking account
thereafter.
