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Here are 7 common ATM frauds and how to stay safe.
Installing a tiny shimming device on the machine to gather magnetic data from the ATM card.
ATM card cloning is also considered hacking. Cloning fraudsters typically target the elderly, who are less knowledgeable and cautious of such scams and frauds.
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.
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.
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.
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.
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.