Common ATM Frauds in India and How to Prevent Them

ATMs offer great convenience by providing a 24/7 access to money. You don’t have to stand in long queues to withdraw money from your account, and you can also check your balance or transfer money to another account easily. However, since the past few years, ATMs frauds have increased considerably, which is why you must be always careful when you enter an ATM booth.

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The following are a few common ATM frauds that you must know about:

1. ATM Card Skimming

In this, a fraudster plants a tiny skimming device in the card slot of an ATM machine, and when someone uses the machine, the device reads the information stored on the magnetic tape of the card.

The fraudster thenuses the skimmed information to create a duplicate card. They also steal the associated PIN by installing a camera in the ATM booth.

2. Keypad Jamming

In this, the defrauder jams the “Enter” and “Cancel” buttons of an ATM machine. So, when a user uses the machine and punches their ATM PIN they are not able to press the “Enter” button or the “Cancel” button. Assuming the transaction has been cancelled automatically they leave the booth, which is when the defrauder quickly gets in, removes the jamming substance, and withdraws money while the transaction window is still open (which is usually 20 or 30 seconds).

3. DummyDispensing Tray

The fraudster installs a dummy cash dispensing tray right over the actual ATM cash dispensing tray. So, when a user withdraws money it gets collected in the dummy tray. However, they are not able to see it. Assuming the money has not been withdrawn they leave the booth. The fraudster then gets in and removes the tray and steals the cash.

So, these were the top three ATMs fraudsthat are quite common in the country. So, next time you sense any of these make sure you don’t leave the ATM booth and call the bank right away. This way you can prevent a fraud and also help in nabbing the culprits.