When you’re pulling out some cash from the ATm, you might want to be aware of your surroundings.
You might want to be careful what you do with “wierd” emails from scam artists too. Here are 9 tips to the words of the wise.
1. Look for suspicious attachments. Criminals often capture information through "ATM skimming," using devices that steal magnetic strip information. The Secret Service estimates that fraud losses from skimming are about $350,000 a day in the United States.
At a glance, the skimmer looks just like a regular ATM slot, but it's an attachment that captures ATM card numbers. If you look closely, you may notice the attachment slightly protrudes from the machine and may not be parallel with the inherent grooves. Sometimes, the equipment will even cut off the ATM manufacturer's text.
The skimmer will not obtain personal identification numbers, however. To get that, fraudsters place hidden cameras facing the ATM screen. In Texas, police officials discovered wireless cameras inside innocent-looking pamphlet holders pointing directly toward the keys.
There might even be a sign that says something like: "If for any reason the ATM malfunctions, please input your PIN three times and press cancel."
There's also the helpful bystander (the criminal) who may be standing by to kindly inform you the machine has had problems and offer to help.
2. Minimize your time at the ATM. The more time you spend at the ATM, the more vulnerable you are. If you need to update your records after a transaction, "do it at home or the office, but not while at the ATM," says Tracy Kitten, editor of ATMmarketplace.com, an online trade publication. "If you're making a deposit, don't sign your checks at the ATM."
3. Make smart deposits. Some ATMs allow you to directly deposit checks and cash into your accounts without stuffing envelopes. The receipts have the check images on them, and the funds usually are immediately available.
By eliminating several ATM deposit steps, this new technology has tremendously cut back on ATM fraud, says Brian Bailey, vice president of marketing and product management for the NCR Corp., an ATM manufacturer.
"We have several options available to banks if they want to hide or not print personal details, like account numbers, on receipts," Bailey says.
As for the envelope-based deposits, make sure they go through.
"Sometimes people carelessly shove (the envelopes) in the window. If it gets jammed and it doesn't fully go into the machine, the next person can walk up and take it out," says Laura Criscione, chief financial officer of North Jersey Community Bank.
After you've made the ATM deposit, compare your records with the account statements or online banking records.
4. Avoid using ATMs at night. While robberies are less prevalent than fraud at ATMs, there's still risk, especially at night.
"If you're using the ATM at 2 o'clock in the morning in a desolated area, you're making yourself vulnerable and more susceptible to an attack than if you went at 5 o'clock in the afternoon," Kitten says.
And if you have to use an ATM late at night, patronize one at a bank or credit union.
"Financial institutions have to follow certain guidelines and regulations as far as lighting is concerned. They also have cameras on all the ATMs," Kitten says. "A (bank's) ATM is more secure."
5. Be aware of your surroundings. Before you slide your card into the machine, look around. Does the area appear safe? Is there anybody who can see the PIN pad?
"Always be careful and know your whereabouts," Sorrentino says. "Make sure you complete the transaction."
A good rule of thumb is to always shield your card, no matter how comfortable you are with the place.
6. Keep your receipts and card on your person. Consumers know that many ATMs don't reveal the entire account number and often discard receipts in the garbage next to the machine. That's a very dangerous practice.
Before you leave the machine, make sure you have your card. As much as 83 percent of all ATM and debit fraud results from stolen cards, the TowerGroup says.
7. Check your financial institution's protection plans. Many banks place a cap on ATM withdrawals and build customer profiles to protect you from fraudulent activity. If a person's card was used outside of the normal area, for example, some banks would call the customer to verify the transaction's authenticity.
8. Memorize your PIN. This is a no-brainer, but the reality is many cardholders walk up to an ATM and pull out a piece of paper containing four numbers.
"You especially don't want to keep your PIN, Social Security card and ATM card all together in your wallet," Kitten says. "If someone comes up and hits you over the head, they're going to have all your information right there."
9. Don't provide information via e-mail. TowerGroup says 3.5 percent of ATM and point-of-sale debit fraud originates from phishing e-mails. Phishers attempt to obtain information about your bank account by asking for your PIN, account number and personal information. Much like ATM skimming equipment, these e-mails appear legit. If you click on a link, you will be sent to a Web site that looks exactly like the one the phishers are imitating.
The Federal Trade Commission says reputable companies do not ask for information through e-mail. If you receive one of these e-mails, inform the organization. And if you believe your accounts have been compromised, inform your financial institution and cancel the account.
[Source Bankrate.com]
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