In a continuing effort to safeguard the financial interests of its clients, the National bank details the main theft techniques that affect users of Credit cards. As fraud methods evolve, the financial institution informs the public and underlines the need for constant vigilance in the handling of its banking assets.
Credit card users are often vulnerable to different deception strategies, ranging from direct manipulation to the use of advanced technologies to steal information. Learn these tactics to prevent economic losses and maintain the integrity of the financial system.
Card change: how does this form of theft work?
Card switching is a fraud technique in which criminals, taking advantage of the distraction or confusion of users at ATMs, replace the customer’s credit card with another of similar appearance. This deception usually occurs when a supposed good Samaritan offers to help during an operation at the ATM. Then, when the person tries to enter the password, another complicit person observes the key.
To prevent this type of theft, it is crucial not to accept or request help from strangers when using an ATM. Furthermore, it is always a good idea to verify that the card you withdraw from the ATM is really your own, carefully examining any distinctive features before and after each use.
Lebanese snare: how to identify this form of fraud?
The Lebanese loop, according to the Banco de la Nación, involves the installation of a device inside the card entry slot at an ATM. This device locks the card inside the ATM, while an accomplice watches or distracts the victim to obtain their PIN code. Once the person leaves the place, Believing that their card has been held by the ATM, the criminals proceed to recover it and use the stolen information to carry out illicit transactions.
The best way to avoid falling for this type of deception is to inspect the ATM before using it, looking for any items that seem out of place or artificially added. In case of difficulties with the card, it is advisable to contact the bank immediately and never lose sight of the card during use.
Card theft: what is card cloning about?
Card cloning is another sophisticated form of fraud. It consists of copying the information from the magnetic stripe of a credit card using a hidden device, known as a skimmer. This device is placed at points of sale or in the ATMs themselves and, once the card is swiped through the reader, all information is transferred to the scammers. With this data, criminals are able to create exact copies of the card. These are cloned cards, with which they make purchases or withdrawals without consent.
To protect against cloning, it is essential to cover the keyboard with one hand when entering the key and regularly check bank statements for any unusual activity. It is also recommended to use wireless payment devices in verified merchants and request that the POS be brought to the customer’s location to avoid leaving the card out of sight.
Source: Larepublica
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