Banco de la Nación warns about ATM fraud called ‘Lebanese loop’: how does it work?

In an ongoing effort to protect its users from fraudulent activities, Banco de la Nación has issued a new warning regarding the type of ATM scam known as the ‘Lebanese loop’. This technique allows criminals to capture cards and obtain sensitive information from users. In addition, other forms of fraud have been reported that seek to deceive and harm users of the financial system.

The bank emphasizes that customer collaboration is essential to prevent these frauds. The institution emphasizes the importance of vigilance and the adoption of preventive measures to avoid becoming victims of these scams. Below are the main types of fraud and recommendations to protect yourself.

Banco de la Nación: what is the “Lebanese loop” fraud modality about?

The ‘Lebanese snare’ is a type of scam that takes place at ATMs, where criminals install additional devices in the slot intended for inserting cards. These devices retain the cards of users, who assume that the ATM has retained them due to some error. Meanwhile, criminals, under the guise of offering help, observe and memorize the victim’s PIN code.

Once the person leaves the ATM, the fraudsters recover the card and, with the PIN already known, proceed to make money withdrawals or fraudulent transactions.

This fraud method is particularly effective because of the trust people often place in automated systems and the apparent goodwill of strangers who offer their help. Criminals take advantage of any carelessness or distraction of the user to carry out their crime quickly and efficiently.

“Lebanese loop”: How to prevent this type of fraud at the ATM?

To protect yourself from the ‘Lebanese loop’ and other forms of ATM fraud, Banco de la Nación offers several key recommendations. First of all, it is advisable to carefully inspect the card insertion slot before using the ATM. If a strange device is detected, it is better not to use that ATM and report the anomaly to the bank.

Another preventive measure is to reject any offer of assistance from strangers while using the ATM.. Customers should be cautious and not allow their card to leave their field of vision at any time. If any anomaly occurs during the transaction, you should immediately contact the bank’s customer service and do not accept help from strangers who are near the ATM.

Additionally, it is advisable to change the secret key periodically and not share it with anyone. If you witness suspicious activities, you should cancel the operation immediately and find a safer ATM to carry out the transactions.

What other types of scam does the Banco de la Nación warn about?

The Banco de la Nación also warns about other forms of fraud that seek to deceive users. Among them, the ‘card change’ It is a technique in which criminals, under the guise of helping, replace the user’s card with another from the same bank, while an accomplice observes and memorizes the secret key. Using this information, scammers can make fraudulent withdrawals and transactions.

Another modality is ‘card cloning’, where criminals use devices known as ‘skimmers’ to capture information from the magnetic stripe of cards when making payments in stores. They then make replicas of the cards and carry out unauthorized transactions. To prevent this type of fraud, it is recommended to hide the keyboard when entering the PIN and not lose sight of the card during payments.

He ‘over-the-counter payment with fake bills‘ is another common scam, where scammers trick customers into believing they received counterfeit bills during a transaction. Lastly, the mode of ‘the winning call‘ involves informing victims about an alleged prize that requires a deposit or transfer to be collected. To avoid falling into these traps, it is essential to verify the authenticity of any communication and not make payments to strangers.