ATM Cards Security In Nigeria: ATM Fraud Identity, Theft Tips at ATM Machines
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The ease with which money can be withdrawn or items purchased using ATM cards make them an attractive target to fraudsters.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 within minutes. 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.
Move from Magnetic strip to PIN and Chip
ATM cards that work with magnetic strip technology can be easily cloned than the ones that work with PIN and chip. ATM cards dependent on PIN and Chip technology provide better security. Nigerian banks now offer PIN and chip ATM cards.
Change your ATM card to the PIN and chip type if you’re still using the magnetic strip type. To know if your present ATM card happens to be the PIN and chip type, this card type has a golden connector like what’s obtainable with your mobile phone SIM card.
Conceal Your PIN while entering your details into An ATM Machines
Fraudsters loiter around with the aim of stealing PINs from consumers that are not security conscious. All the fraudsters do is just to note the PIN number entered and memorise them. Make sure you use your hand as a shield when inputting your PIN at ATM machines so as to prevent anyone from being able to steal your ATM card PIN.
Destroy ATM transaction Paper print-out properly
At the end of every transaction at an ATM machines, the ATM will print out information containing your transactions if you so wish. Endeavour not to dispose of this print-out carelessly, as it could be an avenue for fraudsters to get at you. Worst of all, some people simply carelessly dispose of this printout on the floor. That, of course, is not an ethical thing to do.
It is advisable however, to simply burn, tear off or pocket the printout you obtain from the ATM. It is a private information that should not be disclosed anyhow.
Do not allow authorize anybody to use your ATM card
It is not ethical to disclose your ATM pin/card details to any third party, irrespective of the level of closeness to the person. A trustworthy person may turn a foe tomorrow. Trust no body, for even your best friend today may turn your sworn enemy tomorrow.
Report missing ATM cards to your bank ASAP
Once your ATM Card gets missing or you suspect that your identity has been stolen or your banking details have been compromised, including your ATM PIN do not hesitate to inform your bank to block it as soon as possible the card and prevent any access to your account.
Do not reveal your ATM Pin to anyone
Not even your bank will request for your ATM Pin details. As such, not third party has the right to request for such information, under whatsoever guise possible – be it via SMS or email. Discard such prompts. You could be just a step away from being hacked by a fraudster.
Your ATM PIN is the sole passport to your account, never disclose it to anyone. Remember to change your ATM PIN frequently to guard against activities of fraudsters.
The tips discussed above will greatly help in safeguarding your ATM details and card from theft.
Inspect the ATM First
Inspect an ATM machine first before using an and ensure that nothing unusual is going on there. Some fraudsters may simply install a camera or webcam to monitor people’s PINs. Every ATM has an official camera installed by the bank. But, if you see an extra camera or a strange body which you cannot comprehend or which presence is questionable, please, desist from using such an ATM.
What is an ATM Machine or an ATM Card
Usually installed in a bank’s premises, or in any other secure and convenient location, an Automatic Teller Machine a.k.a ATM is a device or machine which serves the banking public with automated financial services. Some of the locations where ATMs are planted other than the bank include schools, shopping malls, petrol stations, hospitals, etc. With this device/machine, it is a much easier for anybody to withdraw his/her money, make monetary transfers, recharge his or line or check bank account balance.
To carry out the afore-cited functions, however, on an ATM machine, one needs an ATM card which may be issued by the bank. A Personal Identification Number a.k.a PIN, apart from an ATM Card, is also required to enable these functions. You will be issued a default PIN which comes with your ATM card, but you are required to change this into something unique to yourself, to enhance your security. Using your ATM card and PIN, you can then gain access to your account using any ATM machine around you, which of course, is connected to your bank at any time of the day, in as much as there is network to enable financial services via the ATM.
You can also use your ATM cards as debit cards to pay for items during shopping at a retail shop(s) or via the internet. Alternatively, you can use your ATM Card on a Point of Sale (POS) terminal when shopping offline to process your payment(s).