A video that you must watch before withdrawing money from ATMs
NEW DELHI: The next time when you step inside an ATM to withdraw money be very sure of the teller machine before you insert your debit card. A group of alert citizens around Arjun Nagar area in New Delhi unearthed an ATM rigged with a card skimming tool and hidden camera, as per a video shared by UP Police additional SP Rahul Srivastava.
While card skimming fraud is very common in India, very few ATM users are aware about it. Also, the lack of awareness around how ATM card skimming devices look like and function help fraudsters steal card details and ATM pin numbers. So, before you step inside an ATM to withdraw money watch this video carefully.
In April 2019, 12 people lost at least Rs 10 lakh when they had swiped their cards in ATMs near Laxmi Nagar in Delhi. This was possible through ATM card skimming which has been a major pain point for banks.
Earlier this year, the country’s largest nationalised bank, State Bank of India (SBI), had lowered the ATM cash withdrawal limit to Rs 20,000 a day, from the previous Rs 40,000 to tackle ATM card skimming fraud. Also, SBI recently introduced cardless cash withdrawal service through its Yono internet banking app. Some banks like Canara Bank is now enforcing 2FA or mobile OTP verification while withdrawing money from ATMs while others are even looking at the possibility of getting rid of debit cards altogether.
ATM skimming is simply stealing the banking details from the users’ ATM card. Criminals install small devices called skimmers into the card slot of ATM machines or POS terminals. These skimmers capture the information stored on the magnetic strip of an ATM card. A camera installed somewhere above the keypad captures the ATM pin as the user enters it in an ATM or at a shop. These details are then used to clone cards to withdraw machines from other ATMs or do online shopping.
Note that in case of a fraud, you can claim a refund if you report the matter within three working days. However, the refund process and policy totally depends on your bank.