RBI shares how to protect yourself from ATM card skimming
Fraudsters have been employing novel tactics to steal ordinary and naive people's hard-earned money, particularly new entrants unfamiliar with the techno-financial eco-system.
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FollowIn recent years, there has been a significant increase in the use of digital ways of payment. This has enhanced consumer convenience and has also greatly aided in the fulfilment of the national goal of financial inclusion. The number of scams in retail financial transactions has increased as the convenience of performing financial transactions has risen. Fraudsters have been employing novel tactics to steal ordinary and naive people's hard-earned money, particularly new entrants unfamiliar with the techno-financial eco-system.
Recently, the RBI issued a document to raise public awareness about the methods used by fraudsters and provide some guidance on safeguards to take when conducting financial transactions.
What is the modus operandi for ATM card skimming?
It has been observed that fraudsters install skimming devices in ATM machines and steal data from your card. According to the document, the users' PIN is captured by installing a dummy keypad, small or pinhole camera, which is well-hidden from plain sight. It said fraudsters pretend to be other customers standing nearby and gain access to your PIN while you enter it. "This data is then used to create a duplicate card and withdraw the amount from customer's account," it added.
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Here's how you can prevent from being scammed
- The user should verify to ensure that there is no extra device attached near the card insertion slot or keypad of the ATM machine while making a transaction.
- Second, cover the keypad with your hand while entering your PIN.
- Third, do not enter the PIN in the presence of any other person standing close to you or share the card with anyone.Â
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