The Economic and Financial Crimes Commission (EFCC) has received numerous complaints from concerned Nigerians regarding unauthorized bank withdrawals linked to Automated Teller Machine (ATM) debit card swapping fraud. Investigations by the Commission have unveiled a growing trend in this fraudulent activity.
According to EFCC ,Fraudsters employing this modus operandi approach unsuspecting bank customers at ATMs, posing as helpful individuals. In a swift maneuver, they swap the customer’s debit card with one from the same bank while memorizing the PIN used during the transaction. The victim, often unaware, finds the fraudulent card stuck in the machine due to an intentionally incorrect PIN, and the fraudster abandons the scene, leaving the victim to discover the issue later.
This type of card swapping occurs at various service delivery points, including Point of Sale (POS) terminals and ATMs. The EFCC urges the banking public to exercise caution and offers the following tips to prevent financial losses:
1. Keep your cards in sight or in a secure location, ensuring that the card returned to you after a transaction is indeed yours.
2. Regularly review your bank statements for any unauthorized transactions.
3. Set up transaction alerts to monitor activities on your accounts or with your bank card.
4. Cover the keypad when entering your PIN at POS terminals or ATMs.
5. Avoid rushing during payments or withdrawals and seek assistance only from official bank personnel.
6. Immediately contact your bank to block your ATM cards if they get stuck in the ATM or if you observe any irregularities.
7. Know your bank’s ATM offline blocking code and use it promptly if your card is misplaced or stolen.
8. Utilize the USSD code \*966\*911# to block your ATM card instantly.
The EFCC reassures the public that it remains committed to safeguarding personal, corporate, and national finances in its ongoing efforts to eliminate all forms of economic and financial crimes in the nation.
