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As the world adapts to digital currency and technology, criminals are catching up with trends. Criminal activity is uncontrolled. Various types of fraud keep causing financial issues for many unsuspecting individuals.

Over the years, ATMs have been a convenient playground for criminals. Recently, these scams have evolved and use advanced devices to clone critical banking information without your knowledge. Read on to find out about five types of ATM fraud and tips to help protect yourself at the ATM.

What is ATM Fraud?

Over the years, ATM fraud has also evolved for criminals to continue their illegal financial gains and to leave victims in worse scenarios. Additionally, there are different ways that you can fall victim to this type of fraud when you least expect it. The most common consequence of ATM fraud is unauthorised cash withdrawals from your bank account.

Knowing what you are dealing with and the types of ATM fraud scams to look out for helps you stay more alert to protect yourself when you need to withdraw.

5 Types of ATM Fraud

According to research, ATMs have become commonplace for fraudulent activities. Due to convenience, you are likely to use them without paying extra attention in most cases. However, there’s a high chance that you are walking into any of the following types of ATM fraud:

Cloning: Criminals can clone your transaction card information without stealing your physical card. Your card can usually be used for fraudulent transactions without your knowledge. However, your card type can require a PIN, and they would need to access your PIN as well.

Keyboard Jamming: Sometimes, a device can be placed on the ATM to jam specific keys like “enter”. This results in an unsuccessful transaction from your end. Yet, once the device is removed, these criminals can conclude the transaction and take your money.

Skimming: Card skimming is likely the most common ATM fraud you can experience. Criminals insert a small, undetectable device that reads your card information, and another device is placed above the ATM keyboard to read your PIN. You won’t be aware of the scam until it’s too late.

Shimming: This is like card skimming. The difference is that the information on the type of shimming machine clones can be used to remodel a different bank card without your knowledge. Most importantly, the ATM won’t signal any technical difficulties, and there can be many unsuspecting victims.

Trapping: Card trapping is one of the oldest ATM card scams you can expect. Criminals place something to jam the card slot machine after you’ve inserted it. You can leave your card behind, thinking the machine swallowed it; meanwhile, criminals have gained access to your banking information.

5 Tips To Help Protect Yourself At The ATM

Keep Your PIN Personal

You should safeguard your card pin. Ensure you don’t tell anyone what it is; you should memorise it instead of writing it down. An unprotected card pin provides anyone with access to your money.

Don’t Accept Help from Strangers

It’s crucial to decline any help from anyone hanging around the ATM you are using. Sometimes, they may pretend to have the same issues as you. However, they might use this tactic to lure you to let your guard down to scam you.

Keep a Close Eye on Your Surroundings

Being aware of your surroundings helps you stay alert. It also makes it harder for criminals to target you as an unsuspecting victim. For instance, when you’re alone and it’s dark, you should stay away from an ATM.

Don’t Leave Transaction Records Behind

Your transaction records at an ATM can lead to criminals gaining access to sensitive financial information. You should dispose of your ATM receipts to reduce the risk of your bank account information landing in the wrong hands.

Don’t Display or Count Money at the ATM

You should put your money away after withdrawing it. If you need to count money, ensure you’re in a safe space before taking it out from your purse or wallet. If the ATM gave you money that isn’t short, you should go to the bank to sort out the issue instead of waiting near the machine.

In conclusion, you should consider ATM safety tips when you use your bank card. Sometimes, these scams aren’t successful, and criminals can resort to violent tactics to get money from you. As the weather gets warmer and more people are outdoors, ensure you download the iER App.

With the panic button widget on your phone’s home screen, you can alert our call centre agents to ping your location and dispatch emergency personnel. Don’t let an emergency inconvenience you when iER is here for you, no matter where you are.