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Fraud Prevention (for Consumers)

  • Keep your receipts and card before leaving the place. Before you leave the machine, make sure you have your card. Also, do not leave your receipt behind at the ATM. Keep copies of your receipts and compare them with your monthly statement. As much as 83 percent of all ATM and debit fraud results from stolen cards and discarded receipts bearing card/account numbers.

  • Memorize your PIN. Many cardholders walk up to an ATM and pull out a piece of paper containing four numbers. If you are not sure, make it a point that you don’t keep the PIN and ATM card together in your wallet – If someone comes up and hits you over the head, they‘re going to have all your information right there. But ideally, one should never write down the PIN number – it should be memorised.

  • Never disclose your PIN to anyone. Even bank officials do not require an ATM PIN – neither to process an issue involving ATMs, nor to remove a card stuck in the machine. Always change the PIN as soon as you receive it. Preferably, change it every quarter. This habit will also help remind you of changing the PIN if you find a suspicious activity.

  • Never provide information via e-mail. About 3.5 percent of ATM and point-of-sale debit fraud originates from ‘phishing’ e-mails. Phishers attempt to obtain information about your bank account by asking for your PIN, account number and personal information. Much like ATM skimming equipment, these e-mails appear legitimate. If you click on a link, you will be sent to a Web site that looks exactly like the one the phishers are imitating. Reputable companies do not ask for information through e-mail. If you receive one of these e-mails, inform the organization. And if you believe your accounts have been compromised, inform your financial institution and cancel the account.


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