The Economic and Financial Crimes Commission has advised Nigerians to be wary of ATM swap fraudsters, saying the commission had been inundated with complaints from the public concerning the incident.
The EFCC Head of Media and Publicity, Mr Dele Oyewale, gave the advice in a statement to journalists on Tuesday in Ibadan, Oyo State.
Mr Oyewale said investigations by the commission had linked unauthorised withdrawals from customers’ bank accounts to Automated Teller Machine debit card swapping or fraud.
He said that the modus operandi of the fraudsters involved keeping a debit card of the same bank, and swapping the card in the guise of helping a confused bank customer at any ATM point.
“They swap the card in such a hurry that the customer would not notice and at the same time memorise 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 terminals, and ATM points, among others,” Mr Oyewale said.
He said that the fraudulent practice was gaining momentum across the country and the banking public was enjoined to be more circumspect in the use of debit cards.
The commission listed the useful tips to be adopted by the banking public to avoid further financial losses to include keeping cards in sight or a safe place after making any transaction and ensuring that the card actually belongs to oneself.
“Regularly check your bank statements for any unknown transaction, set transaction alerts to monitor any activity on your accounts or with your bank card. They are vital in stopping the fraudsters.
