Banco de la Nación warns about ATM fraud: learn all about the ‘Lebanese loop’ scheme and how to protect yourself

In order to safeguard its users from fraudulent activities, the National bank warns about the ‘Lebanese loop’, a type of scam in ATMsThis fraudulent technique retains cards and steals their information. In addition, the bank has warned about other forms of fraud that seek to deceive and harm users of the financial system.

The institution stresses the importance of vigilance and adopting preventive measures to avoid falling victim to these scams. Below is a description of what the ‘Lebanese loop’ consists of, how to prevent it and other types of scams reported by the Banco de la Nación.

Banco de la Nación: What is the “Lebanese loop” fraud?

The ‘Lebanese lasso’ is an ATM fraud technique that involves installing additional devices in the slot intended for inserting cards. These devices retain the cards of users, who believe that the ATM has retained them due to a technical fault. Meanwhile, the criminals, posing as people offering help, observe and memorize the code. PIN of the victim.

Once the user walks away from the ATM, the fraudsters retrieve the card and, knowing the PIN, carry out cash withdrawals or fraudulent transactions. This method of fraud is effective because of the trust people place in automated systems and the apparent goodwill of strangers who offer to help.

“Lebanese lasso”: how to protect yourself from this type of ATM fraud?

To protect against the ‘Lebanese loop’ and other forms of ATM fraud, the National bank offers several key recommendations. First, it is advisable to carefully inspect the card insertion slot before using the ATM. If any strange device is detected, it is best not to use that ATM and report the anomaly to the bank.

Another preventive measure is to refuse any offer of assistance from strangers while using the ATM. If any anomaly occurs during the transaction, you should immediately contact the bank’s customer service and not accept help from strangers who are near the ATM.

It is also advisable to change your password periodically and not share it with anyone. If you witness suspicious activity, you should cancel the transaction immediately and find a safer ATM to carry out your transactions.

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

The Banco de la Nación also warns about other types of fraud that seek to deceive users. Among them, the ‘card change‘ 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 code. With this information, the scammers can carry out fraudulent withdrawals and transactions.

Another modality is the card cloningwhere 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 keypad when entering the PIN and to keep the card in sight during payments.

He ‘payment at the counter with counterfeit bills‘s’ is another common scam, where fraudsters trick customers into believing they received counterfeit bills during a transaction. Finally, the ‘l’ schemethe winning call‘ involves informing victims about a supposed 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.