Your ATM cards gives you easy access to your bank account information as well as makes it easy for you to access the money in your bank account. ATM cards also serve as debit cards, which you can use to buy at stores via a Point of Sale POS device or on the internet. The ease with which money can be withdrawn or items purchased using ATM cards make them an attractive target to fraudsters. So you need to be careful when using your ATM card, or your life savings could be wiped out by heartless fraudsters. Here we provide a few tips on ATM security, preventing ATM Fraud, and Identity theft, you will also find more information about ATM in this page.
One of the most popular sort after by fraudsters during Identity theft schemes is your ATM card or debit/credit card details. ATM fraud is on the increase, the more information you have the easier preventing ATM fraud becomes.
ATM Security and ATM Fraud prevention Tips
ATM makes withdrawing money easy. All you need is an ATM card and information about the PIN and you can withdraw money from any ATM machine connected to your bank. This means that anyone with your PIN and the well with all to clone or steal your ATM card can withdraw money from your account via an ATM machine. This means that the main target of fraudsters is your PIN, secure it and you will considerably reduce the chances of losing your money to ATM fraud. Here are a few tips on ATM security and ATM fraud prevention.
Change your ATM default PIN as soon as the card is issued to you
Your ATM card comes with a default PIN, which can easily be compromised due to handling and paper trails. Because of this you should change your ATM PIN as soon as possible. Simply slot it into an ATM machine and select change PIN.
The safest place for your ATM PIN is your memory/brain
As soon as you change your ATM PIN commit it to memory. It is safest in your brain than in any other place. Destroy all paper trails about your ATM PIN and all other confidential account access information. An ATM PIN written on paper can be found by a fraudster and used against you, so keep your ATM PIN safe in your memory.
Change Your ATM Pin occasionally or when you think it is compromised
On the internet there is a security tip that you should change your password every six months. This is not a bad tip for your account access Pin either. The longer you use an ATM Pin, the greater the chances of it being compromised. If you have any reason to believe that anyone can sign your signature, you are most likely to change it. Apply the same common sense (wisdom) for your personal identification number. Simply slot it into an ATM machine and select change PIN.
Change from Magnetic strip to Chip and PIN
ATM cards based on magnetic strip technology are easier to clone than those based on chip and PIN. ATM cards based on Chip and PIN technology offer better security. Banks in Nigeria are now offer chip and PIN ATM cards.
If for any reason you are still using magnetic strip cards, change it to the chip and PIN type. To check whether your current ATM cards is chip and PIN, chip and PIN ATM cards have golden connectors similar to your mobile phone SIM card.
Cover-up when entering your PIN at ATM
Fraudsters hang around ATM machines, hoping to steal ATM card PINs from un-suspecting consumers. They simple note the number you enter and memorise them. To prevent anyone from stealing your ATM card PIN use your hand to cover-up when entering your PIN at ATM machines.
Destroy ATM transaction Paper print-out properly
After every transaction at an ATM machines, details of the transaction will be printed out by the ATM machine, if you so choose. Do not throw away this paper print-out carelessly. Some users even drop the paper on the flow or even leave for the next user. This a gold mine for identity thieves.
The best approach is to pocket the ATM print-out, and destroy is properly with a paper shredder. You can also burn it properly and flush it down your toilet.
Do not allow authorize anybody to use your ATM card
Do not allow your wife, husband, girlfriend, boyfriend, brother, sister, anybodyto use your ATM card. Do not give your ATM card to anybody to go and withdraw money for you. Do not reveal your ATM PIN to anybody. You may trust the person now, but relationships are dynamic. We all hope for the best, but your friend today can become your enemy tomorrow. Even your most trusted friends can betray you when money is involved.
Report missing ATM cards to your bank ASAP
If your ATM Card is missing or you suspect that you are a victim of identity theft and your banking details including your ATM PIN has been compromised, call your bank and block it as soon as possible.
Do not reveal your ATM Pin to anyone
Every now and again, you will receive an email or SMS purporting to be from your bank or any other person or organisation for that matter requesting you to send your ATM PIN for some reason. This may claim to be from your bank or the ATM platform provider like InterSwitch, Visa, or MasterCard.
The e-mail will usually give you the impression that there is a problem with your ATM card and that by submitting your ATM PIN the problem will be solved. Never make the mistake of revealing your ATM PIN under any circumstances, not even to bank officials.
Never fall for this scam no matter how compelling. Your ATM PIN grants access to your account, do not disclose it to anyone. Do not forget to change your ATM PIN from time to time.
Follow the tips above and you will go a long way in preventing ATM fraud and Identity theft.
Inspect the ATM First
Before using an ATM machine, inspect it first and make sure there is nothing unusual. Some fraudsters may plant a camera to harvest PINs. ATM usually has an official camera, do not use it if you see an extra camera or any thing you do not understand.
What is an ATM Machine or an ATM Card
An Automatic Teller Machine ATM is a device, usually installed within a bank’s premises, but can also be installed in any secure and convenient location, that offers automated financial services to the banking public. With ATM, it is a lot easier to withdraw your money or check your bank account balance. Other financial services that can be handled at ATM machines include fund/cash transfer, phone credit recharge and bills/tax payment.
To engage in any transaction on an ATM machine, you need an ATM card issued by your bank. You also need a Personal Identification Number PIN. A default PIN will be issued with your ATM card, but you are advised to change it to something unique to improve security. With your ATM card and PIN, you can access your account from any ATM machine connected to your bank from anywhere in the world at any time 24/7.
ATM cards can also serve as debit cards for paying for items while shopping at retail shops or on the internet. When shopping offline a POS terminal will be used to process your payment. ATM machines are usually located in banks, schools, shopping malls, petrol stations, hospitals, and so on.
Fraud prevention in ATMs: ECS 4-in-1 Cutting Edge Anti-Skimming Device
“From the point of view of preventive security, the SCATI solution enables activating more automatic processes in the event of detecting suspicious behaviour at any of our ATMs. This has allowed us to achieve a very considerable reduction in the number of frauds committed in the institution.”
ECS®4-in-1 is a unique anti-skimming solution that protects against card data theft at the ATM.
The enhanced security provides:
■ Protection for the consumer at the ATM
■ Reductions in fraudulent transactions & claims related to stolen card data
■ Protection of the Financial Institution’s
Brand and Reputation
ECS 4-in-1 detects a skimming attack directly at the card reader, as well as unauthorized access to the ATM. Once a skimming attack is detected, ECS 4-in-1 will immediately begin emitting random jamming frequencies that scramble the skimmers ability to obtain card data. Communication then takes place through various alerts and notifications to the appropriate parties to take action. Data logging and analysis will assist with investigation by the appropriate parties.
Hybrid and IP recording platforms whose Fanless technology and small size provide maximum reliability in environments such as ATMs. Their optional integration with the transaction data using SCATI CASH constitutes a powerful tool in fraud prevention.
With up to 1.3 Mpx, these discreet cameras capture images with excellent sharpness and enable the facial detection of their users. Their small dimensions mean they can be installed in the actual ATM. They include WDR functionalities, backlight compensation, DC 12V/PoE power supply.
Powerful control centre tools which enable the automated maintenance of the branch network (SCATI ROUND), guaranteeing the availability of video for an optimisation of the available bandwidth at all times (SCATI LINKER). The SCATI control centre tools facilitate active monitoring (SCATI WATCHER) and the comprehensive management of alarms (SCATI HUB)