CARD SCAMMERS – How can you safeguard yourself?

It’s everyone’s worse nightmare. You placed your card inside the ATM machine in order to withdraw some money from your account and the screen reads, ‘You have exceeded your limit of available funds’.
In total disbelief you stare at the words because you know that you have just deposited money and if you didn’t take it out then chances are you have been scammed!

The use of debit cards at ATM machines has increased significantly over the last few years. Traveling with large amounts of cash was replaced with the convenience of having ready cash with the added bonus of protection if lost or stolen. Times have changed however and criminals have found new ways of ‘cloning’ cards and withdrawing money from several accounts.

Unsuspecting consumers could be placing their money at risk when they use the ATM.

Here are some tips to help maintain your safety.

• Never tell anyone your pin number. Try and choose combinations that would be hard for anyone to guess.
• Look around the machine before you swipe your card. Unscrupulous persons can attach a fake opening that actually reads the information on the card.
• Cover the number pad with your hand as you punch in the numbers just in case there are cameras not belonging to the bank that have been illegally installed.
• Take note of persons who are standing near the machine for long periods but seem to be in no hurry to use it.
• Don’t accept anyone trying to ‘help’ you to access the machine.
• Do not leave print outs about your account on the floor of the ATM. Destroy them or take them with you.

If all these precautions fail and you are the victim of card scamming inform your bank immediately so that they can launch an investigation. Keep safe!!

Tags: consumer, credit card, safety