The Economic and Financial Crimes Commission (EFCC) has issued a warning to Nigerians about the increasing incidents of Automated Teller Machine (ATM) Debit Card swapping fraud. The EFCC spokesperson, Dele Oyewale, stated that the Commission has received numerous complaints from concerned citizens regarding unauthorized withdrawals from their bank accounts. Investigations by the Commission have revealed that these complaints are linked to ATM Debit Card swapping fraud.
Oyewale explained that fraudsters adopt a particular modus operandi where they keep a debit card of the same bank as the target customer. Under the guise of assisting a confused bank customer at any ATM point, they swiftly swap the card, while memorizing the customer’s pin number. The fake card is deliberately used incorrectly, causing it to get stuck in the machine. The fraudster then abandons the victim, advising them to report to the bank while making away with their card. The fraudster can then immediately withdraw funds from the victim’s account.
According to Oyewale, this card swapping scheme commonly occurs at service delivery points such as Point of Sale (POS) terminals and ATM points. The fraudulent practice is becoming more prevalent across the country. The EFCC has urged the banking public to exercise caution and vigilance when using their debit cards.
To avoid further financial losses, the EFCC has provided the following tips for the banking public:
1. Keep cards in sight or in a safe place.
2. Guard against anyone offering assistance while using an ATM.
3. Memorize your PIN number and avoid writing it down or sharing it with anyone.
4. Regularly monitor your bank account transactions and report any suspicious activity to the bank immediately.
The EFCC is working diligently to investigate and apprehend these fraudsters. They encourage anyone with information about ATM Debit Card swapping fraud to come forward and provide any useful information that can aid their efforts.
the EFCC warns all Nigerians to remain vigilant and take necessary precautions to protect themselves from falling victim to ATM Card swapping fraud.
