CBN Explains How Fraudsters Use ATM To Defraud People

 

If you operate a bank account, then you would not be ignorant of the fact that fraudsters have severally attempted to defraud bank customers via Automated Teller Machine popularly called ATM.

Speaking at  the closing ceremony of The Central Bank of Nigeria's stakeholders’ engagement sensitisation programme  tagged; “Promoting Financial Stability and Economic Development”  held in Asaba Delta State, Director of Corporate Communications, Ibrahim Mu’azu disclosed series of ways by which fraudsters can defraud customers.

He said three information on all ATM Cards are unique which the fraudsters only need to know to succeed; the number on the ATM, the expiring date and the pin numbers, adding that “ it is better to memorize it than to write it down where it can be seen”

It was also explained that if the fraudsters get the information, apart from hacking into the account of another customer’s account, they can use it online to transact business while the victims account would be debited.

The Director explained that if a customer’s ATM jams in another bank, it is the responsibility of the original bank where it was registered to destroy it, save the information from leakage and protect the customer’s account, adding that “if anything happens to the customer’s account, the bank has the liability to compensate the customer”.

Mu’azu, however said the apex bank would no longer tolerate the attitude of some commercial banks neglecting customers’ complaints, threatening that it would not hesitate to sanction any commercial bank that fails to address customers’ complaints within two weeks.