ATM Fraud: Here are 7 common types of bank account scam
Here are 7 common ATM frauds and how to stay safe.
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Skimming
Installing a tiny shimming device on the machine to gather magnetic data from the ATM card.
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Cloning
ATM card cloning is also considered hacking. Cloning fraudsters typically target the elderly, who are less knowledgeable and cautious of such scams and frauds.
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Trapping
Installing a system that traps an ATM card in the machine's card slot. The fraudster takes the card, while the victim seeks aid in getting it out.
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Keyboard Jamming
Fraudsters jam important ATM buttons like 'Enter' and 'Cancel', leading the victim to have a failed transaction. Scammers steal the card as the victim leaves to seek assistance.
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Simming
Shimming is a more advanced type of ATM fraud in which thieves use a tiny, card-sized device called a shim to retrieve data from a debit or credit card chip.
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Card Swapping
Card Swapping is a complex type of ATM fraud in which a fraudster monitors your PIN entry and then uses a distraction method to replace your card with a counterfeit one.
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Phishing
Phishing is a dishonest attempt to get private information such as usernames, passwords, and credit card details by impersonating a trustworthy entity in electronic contacts.