How to Protect your ATM Cards & PIN and Bank Account from fraud
To protect your Account and ATM card from fraud is a most by bank depositors as most banks all over the world including Nigeria continue to developed and implementing security enhancements to ensure the integrity of Online Banking platform and ATM Card.
Learning to properly detect and avoid online scams is the ultimate protection against fraud . Card and Online Banking platform . Fraud comes with the potential for more liability since your cards gives you easy access to your bank account information as well as makes it easy for you to access the money in your bank account.
As electronic payment culture gradually gains traction, so also is e-payment fraud on the rise. “That is the reason depositors have more responsibility to safeguard their details from phishing and social engineering attackers”
Nowadays, you will find ATM machine at different locations that are not at the bank’s premises. For whatever reason, you should not use such an ATM. It is advisable to visit the one at the bank. In case of anything, you can easily walk into the banking hall to resolve any issues by laying a complaint or your life savings could be wiped out by heartless fraudsters within minutes.
Also, most banks customer’s do pay for their online transactions with their debit cards. However, before you punch in the numbers on your card and make a payment, ensure that the website is safe and secure. If you suspect anything, simply do not use your card. If what you are buying is important, contact the customer service team of the platform you are buying from.
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ATM skimmer use devices to capture your PIN and card data. The device sits near where you swipe your card and reads the magnetic stripe on your card with your account number. Of course, the thief also needs your PIN number to access your bank account. This is where the camera comes into play.
Security Tips to protect your card and bank account
1. Always cover your password with your hand, while accessing ATM .Hidden cameras are disguised so they can pick up your password. By protecting it, ATM thieves can’t access your account.
2. Don’t disclose your Internet Banking login, card details, PIN and codes from your token device, gives anyone total access to your account
3. Do not lend your card to anyone unless you are comfortable with them having access to your cash.
4. Protect your Personal Identity Number (PIN): Try as most possible to Memorize your PIN. Do not use the Save Password option on your computer, Phone and email . Also don’t not store your password or pin it on your phone or computer.
5. Create strong passwords for your Internet Banking login and card details. Change them often.
6 Check your bank account statements and card transactions regularly to make sure these only reflect transactions you have made. If you see a transaction you cannot explain, report it to the bank.
7. Subscribe to SMS alerts to be delivered to your cell phone or email, so you can stay updated on your account activity.
8. Always log on to your internet banking service via the rightful website
9. Report missing ATM cards to your bank: Once your ATM Card gets missing or you suspect that your identity has been stolen or your banking details have been compromised, including your ATM PIN do not hesitate to inform your bank to block it as soon as possible the card and prevent any access to your account.
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10. Change your ATM default PIN as soon as the card is issued to you
Your ATM card comes with a default PIN, which can easily be compromised due to handling and paper trails. Because of this you should change your ATM PIN as soon as possible. Simply slot it into an ATM machine and select change PIN.
11. Change your PIN regularly: It’s a good idea to change your PIN number every once in a while. Even if they get your card number, they won’t be able to access your bank account this way.
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12. Sign off when you have finished your online banking session.
13 To sum up, do not give your PIN number to anyone over the phone or internet.
When making a purchase never let a store clerk enter your PIN number for you. Remember no one needs to know your PIN number but you.