 cautioned Nigerians about ATM switch scams, urging vigilance as the commission received){kind=link}
The Economic and Financial Crimes Commission (EFCC) cautioned Nigerians about ATM switch scams, urging vigilance as the commission received numerous complaints about this crime.
Mr. Dele Oyewale, the EFCC‘s Head of Media and Publicity, issued this warning in a statement on Tuesday.
Oyewale highlighted the Commission’s findings, connecting unauthorized withdrawals from bank accounts to ATM Debit Card switching or fraudulent activities.
The scammers’ modus operandi involves using a debit card from the same bank and swapping it while pretending to assist a confused bank customer at an ATM.
In his words.
“They swap the card in such a hurry that the customer would not notice and at the same time memorize the pin used in trying the fake cards.”
“These cards get stuck in the machine due to a wrong pin and the fraudster quickly abandons the victim, advising him/her to report to the bank while making away with the victim’s card to make immediate withdrawals from the account.”
“This card swapping typically happens in any service delivery point, such as Point of Sale (POS) terminals, and ATM points, among others”.
