How to avoid ATM fraud

by | May 19, 2016

Theft of financial information is a huge problem all over the world. And with the growth of the internet, phishing is now an even bigger monster than it has ever been with millions of credit cards been compromised on a daily basis.

Debit and credit cards help to support a cashless way of carrying out transactions, so they cannot be ignored. Here are a few tips to keep your debit cards and financial transactions safe.

Never carry multiple cards at once

MasterCard

For people who own multiple bank accounts and different classes of debit and credit cards from these banks, this may seem like too much to ask, but only leave the house with cards you would be needing.

DO NOT disclose your ATM PINs to anybody

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Never let your ATM cards out of your sight for a long period of time for any reason whatsoever, they can be cloned. It is not uncommon for busy people to send their staff on financial errands. For your safety, you can use the Verve World app to generate a One-time Paycode, that will enable them withdraw cash on your behalf without requiring your ATM card.

Be alert

Always shield the ATM keypad with your hand and block the entire view with your body when inputting your PIN. It sounds extreme, but no measures are too much for security.

Beware of phishing

Identity thieves use all sorts of methods to get financial information, so any email or website that requires you to enter financial information like passwords, logins, credit card numbers have to be double-checked. If you are in doubt, here are common phishing scams and how to identify and avoid them.

Conclusion

Most people that take security issues with levity usually regret it. Always go an extra mile in safeguarding your debit card at the ATM machines, better safe than sorry.

Victor Ekwealor
Victor Ekwealor

tech. media. startups. africa. vc | Twitter: @victor_ekwealor

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