Monday, February 11, 2013

ATM Skimming in PH; How to Prevent?

In a report from TV Patrol recently, ATM (Automated Teller Machine) Skimming or Cloning were now entered over Philippines. 


It is an alarming for many ATM Cardholders of local banks as it strikes as a modus operandi by International syndicates from Taiwan, Malaysia and Bulgaria.

For those who are asking for ATM skimming or cloning. It is type of fraudulent activity that involves the illegal copying of information stored in a credit card’s magnetic stripe. Through skimming, unscrupulous individuals make unauthorized purchases by transferring copied credit card information to counterfeit cards.

As a tip for ATM users on how to prevent skimming; so here are some quick tips:

  • Cover your hand when pinning your PIN code
  • Check for suspicious individual or device over the ATM
  • Always look over salesperson or cashier on your card

Report immediately to your bank once you discovered skimming act or inform them to block/deactivate your account.

Some local banks in the Philippines, is using high tech device such as FDI or Fraudulent Device and Cover plaster over Numeric pad.

Official Statement from BSP (Bangko Sentral ng Pilipinas), stated that security measures should be adhere and responsibility of the bank.

Here are the steps once you encountered skimming:
  • Report to your bank immediately; use hotline numbers or toll free numbers.
  • Bank will study and investigate if your report is valid. Don’t forget your reference number for follow ups and other concerns with the name of the customer service support.
  • Once it was identified as real/valid, it is the responsibility of the bank to return the money to its depositor.

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