The Economic and Financial Crimes Commission (EFCC) has warned Nigerians about a surge in ATM card swapping fraud, urging them to take precautionary measures to protect their finances.
In a recent statement, EFCC spokesperson Dele Oyewale noted that the Commission has received numerous complaints from individuals who have experienced unauthorized withdrawals from their bank accounts. Investigations have revealed that these incidents are linked to ATM card swapping scams.
Fraudsters involved in this scheme typically possess a debit card of the same bank as the unsuspecting victim. Posing as helpful bystanders, they offer assistance at ATM machines or point-of-sale (POS) terminals. During the interaction, they swiftly switch the victim’s card with their own, memorizing the PIN as the victim attempts to use the fake card.
The victim, believing their card has been swallowed by the machine, seeks help from bank personnel, providing the fraudsters with an opportunity to withdraw funds from the victim’s account.
To combat this growing threat, the EFCC has issued the following safety guidelines:
Keep your card secure: Never leave your card unattended or in a vulnerable location.
Verify card retrieval: After making a transaction, ensure the card you receive is indeed yours.
Monitor transactions: Regularly review your bank statements for any unauthorized transactions.
Enable transaction alerts: Set up transaction alerts to receive notifications of account activity.
Shielding PIN: Conceal the keypad when entering your PIN at ATMs or POS terminals.
Seek authorized assistance: Only seek assistance from authorized bank personnel.
Immediate card blocking: If your card gets stuck or you suspect any irregularities, promptly block your card by contacting your bank.
Offline blocking code: Familiarize yourself with your bank’s offline blocking code and use it to instantly block your card if it is misplaced or stolen.
USSD blocking: Dial the USSD code 966911# and follow the instructions to instantly block your ATM card.
The EFCC remains committed to safeguarding the financial well-being of individuals and businesses, working tirelessly to eradicate economic and financial crimes in Nigeria.
