It is very much important for you to protect your ATM and debit card information as ATM frauds and skimming is growing day by day.We can say skimming has taken place when someone steals your Personal Identification Number (PIN) and the account number with the help of devices known as the skimmers. Skimming is occurring from the past 10 years and many people are losing money due to skimmers.
Two different devices are used to hack your data. One device is placed where you swipe your card and then it automatically captures the data on the magnetic strip of your card which contains your account number. With the help of other device, your pin number is recorded. Once the thieves capture all your data i.e. your account number and your pin number, they just copy the data on a blank card and use it to access the money.
How to spot the skimmer?
Spotting a skimmer isn’t a daunting task rather an easy task. You need to just check the ATM machine before using it. The card reader section might be extended than usual on the machine which has been tampered. If a keypad on the ATM seems to protrude oddly, check the keypad for it might be a fake. Also if at all the card reader on the ATM machine is loose then try to avoid using that machine.
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How to avoid being duped?
In order to avoid being duped, you try to cover your ATM keypad when you enter your ATM pin. Also, register for the SMS updates in order to stay up to date with the bank transactions on your account. This will surely help you the get an alert whenever any suspicious transaction is done with your ATM card.
What to do if someone steals your ATM details?
One should report the fraud as soon as possible.
For example if you have an account with Bank A and have used the card to withdraw money from an ATM of Bank B, a complaint should be lodged at Bank A at the earliest possible. According to the RBI, “longer the time taken to notify the bank, the higher will be the risk of loss.
How you get the money back?
The bank which has issued you the card will be paying you the money back. If prima facie it is established that you are a victim of skimming fraud, the bank makes the payment upfront. According to the RBI, the customer liability will be zero in a case where the unauthorized transaction occurs in a third-party breach where the deficiency lies neither with the bank nor with the customer, but elsewhere in the system, and the customer notifies the bank.
Tips which will protect you from an ATM fraud
- Cover your PIN code
- Use familiar ATMs
- Check balances frequently
- Always check for hidden cameras
- Keep little cash in your accounts
- Monitor ATM behavior
- Sign up for account alerts
Even though, withdrawing cash from an ATM is the simplest process, one can also make it safer by keeping the precautions in mind.
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