You may be one of those who prefer using a debit card over credit cards. Though it prevents you from spending excess money, it is highly vulnerable. Despite the multiple security measures taken by the columbia bank sayreville and other such banks, ATM frauds have hiked.
Here is a list of ATM frauds you need to be aware of.
An imposter may attach a foreign device to the ATM that can steal all your card details. These include your name, card number, as well as the pin. Once the fraudsters have these details, they can use them to carry out various online transactions.
It can be done through other ways such as eavesdropping, shimming, and trapping. While eavesdropping and shimming involve the use of a card reading device, trapping requires a tool to steal your card. When you insert your debit card, the pre-installed device will trap it, preventing your card from coming out.
ATM attacks can be of various types, where a swindler will hamper the working of the machine before you reach. One such way is when a fraudster installs malware into the machine that controls the dispensing of cash. In such a case, the hacker can steal money from the ATM.
Another way is to install malware that can intercept the card details. Once the data is copied, the swindler can then use it to create counterfeit cards or conduct online transactions.
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In this case, the fraudulent person may jam the ATM keypad by applying glue or inserting a small object. When you are not able to press the ‘Enter’ or ‘Cancel’ keys, you may think that the ATM is misfunctioning. You can neither complete nor end the transaction and may leave it in the middle. The criminal will take advantage of this and complete the transaction once you leave.
Such frauds are inevitable, despite extra precautions. One solution to ATM frauds is using smart credit cards. Such cards come with high-security chips that can protect your card from getting hacked.