ATMs

ATMs can make wonderful Christmas gifts… for fraudsters and thieves!

Cash withdrawals at automatic teller machines (ATMs) have become routine for most people. During the Holiday Season, use of debit and credit cards, at ATMs and at retailers, increases substantially. It is recommended to be cautious and aware of people around you when performing a transaction, especially a cash withdrawal.

A common scam scheme involves the fraudster(s) standing at close proximity to their intended victim, taking note of their personal identification number (PIN). Once they have this information, they will distract their victims by telling them that they have dropped some money or other object. While the victim is distracted, a phony bank card is substituted for the real one. Unfortunately, this type of fraud, which takes a skilled thief only a few seconds, is usually discovered much later.

picture by candyschwartz on flickr

Here are a few tips to avoid being the victim of theft and fraud:

• Choose an ATM in a busy location. If you must withdraw money late at night, have someone accompany you. Always check out surroundings before making your transaction
• You should only perform your transactions when and where you feel safe and comfortable. If you think someone may be watching you, then hold off on that transaction until another time
• Don’t hesitate to ask someone who is standing too close to you to back away. Always hide your PIN by using your hand or body , even if no one seems to be watching…a hidden camera could be recording your movements
• Once you have finished your transaction, make sure that the card you are taking back is yours
• Avoid counting your money in front of others
• Don’t leave your transaction record behind; it contains valuable information including your balance and at least part of your account number and branch transit number
• Only put a portion of your withdrawn funds in your wallet; wait until later to transfer it all
• Never disclose your PIN to anyone, even someone pretending to be an investigator or bank employee.