Today, there are so many elaborate ways of stealing. The new breed of thieves hardly , and they won’t ambush you either. They would sit in front of their computers and steal your money. If you are not careful, that is. This article would tell you the scam styles to watch out for when using your ATM card. When you know these scam methods, it would be difficult for you to fall a victim to scammers’ tactics.

One reason for the low adoption of ATM card services in Nigeria at the onset of the provision of card services was the possibility of Card Fraud. Also, many Nigerians have shied away from purchasing online due to the possibility of fraud.  However, you need not fear getting defrauded whether online or offline. If you know the ways scammers work, then you would easily be able to avoid being scammed.

The methods scammers use in order to gain access to your card include:

SKIMMING

This involves a situation where the scammer attempts to obtain your card information by reading from an ATM machine. The scammer places a device inside the ATM card port and with this, he reads your information and with that information, he clones your card.

How do you avoid scammers that use this method? Simple. You should only use ATM machines that are in secure locations such as bank premises and reputable merchants’ office. Also, do not swipe your card at a suspicious looking POS.

PHISHING

Phishing involves a situation where a scammer creates a false website that resembles a genuine website. In essence, the scammer creates a clone/cloak site of a bank or retail store. The scammer then directs you via email to this false website, asking you to update your card details. You should never heed such an email. No reputable company would contact you via email to do such a thing. You should only use your card on secure websites. These websites would typically have a lock symbol at the bottom of the page indicating that the information you are sending is secure and encoded.

HACKING

This is a large scale method whereby the scammer uses computing tools to break into a bank’s database and steal ATM numbers. The hackers can also hack into the database of a retail site. In order to protect yourself against this, you should only bank or shop with organizations without a history of such incidents. You should only do business with organizations that have the resources to protect your card details.

IDENTITY THEFT

This method is fast gaining ground among the criminal underworld. The scammer steals the identity of the victim and uses the identity to apply for a card or to link a card to an account. This is especially dangerous when you are using a credit card. Another method of identity theft is to use the personal information of the cardholder to gain access to his or her bank account and withdraw money from the account. In order to protect yourself from this, you would need to be very careful with the persons you give your personal information. Personal information like birth date, security questions, and ID card number should be kept away from most acquaintances as you do not know who could be a scammer.

PHYSICAL THEFT

This is the last major way that scammers use to steal money from unsuspecting people. This is a direct method whereby the scammer steals the card. The scammer could be a pickpocket. One way of protecting yourself against this is to be very careful. Avoid displaying your ATM in public. Ordinarily, losing your ATM should not lead to the loss of the money in your account because of the PIN protection. However, recent advances in computer technology have made it possible for scammers to gain access to your PIN once they have the physical card in hand.

If you do lose your card, then you should report it IMMEDIATELY to your bank so that they block it.

Now that you know the methods these scammers use to get your money from your ATM cards, you can now protect yourself against ATM card. As usual, remember not to disclose your pin to anyone and keep your ATM card in a safe place at all times.