EFCC Alerts Public On ATM Swapping Fraud

The Economic and Financial Crimes Commission, EFCC has called on Nigerians to be more circumspect in the use of Automated Teller Machine, ATM Debit Cards owing to activities of fraudsters.

The Commission, which made the call in a Statement, says it has been inundated with a barrage of complaints from the public concerning unauthorized withdrawals from their Bank accounts, which investigations by the Commission have linked to Automated Teller Machine, ATM Debit Card swapping fraud.

The EFCC explains that the method of operation of the fraudsters who engage in the nefarious practice involves keeping a Debit Card of the same Bank and in the guise of helping a confused Bank Customer at any ATM point, swaps the Card in such a hurry that the customer would not notice and at the same time memorises the pin used in trying the fake cards.

The cards get stuck in the machine due to the wrong pin and the fraudster abandons the victim, advising him or her to report to the Bank while making away with the victim’s card to make immediate withdrawals from the account.

The EFCC stresses that the fraudulent practice is gaining momentum across the Country and warns that the Card swapping typically happens in any service delivery point, such as Point of Sale, POS terminals, ATM points, among others.

To this end, the Commission advises the Public on tips that can be used to prevent further financial losses.

The EFCC says Cards should be kept in a safe place and properly identified after transactions.

Regular checks for Bank statements for any unknown transaction should be adopted.

Transaction alerts set to monitor any activity on one’s accounts with a bank card.

Covering the keypad with hand or body when entering one’s PIN at POS terminals and ATM machines.

Avoiding a rush to make payments or withdrawals. The EFCC advises that request for assistance be allowed only from Bank officials.

Calls are made to Banks to block ATM cards immediately when cards are stuck in the ATM machines or whenever any irregularity is observed.

A good memory of Bank’s ATM offline blocking code to use immediately whenever one’s card is misplaced or stolen.

Dial USSD code 966911# and follow the pop-up instructions to block ATM cards whenever fraudulent activity is noticed.

The EFCC promises not to relent in safeguarding personal, corporate and National finances in its quest to rid Nigeria of all forms of Economic and Financial crimes.

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Rita Elenwo

Rita Aletor- Elenwo, is a professional journalist with experience in broadcast, print and online reporting. A proud citizen of Edo state, Nigeria (Esan South East Local Government) Rita had her first degree in philosophy from Ebonyi State University (2008), PGD, in Communication from the University of Port Harcourt (2020), and currently in pursuit of an MSC degree in communication. Rita (nee Aletor-) is happily married with lovely children.

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