ATM and point-of-sale fraud: protect your bank accounts


A nonprofit, Internet Security Magazine, has urged bank customers to protect their bank accounts from ATM and point-of-sale fraud.

The founder of the organization, Mr. Rotimi Onadipe, noted that despite several warnings from banks, the police, the Economic and Financial Crimes Commission (EFCC) and other organizations fighting against cybercrime, many clients of the banks still fall victim to ATM and point-of-sale fraud because they fail. to protect their bank accounts.

Mr. Onadipe said so during his organization’s weekly cybersecurity conference themed “Say NO to Internet Abuse, Say YES to Internet Safety”, held in Ibadan on July 23, 2022.

He said: “When it comes to ATM and POS fraud, fraudsters are becoming more sophisticated in their fraudulent activities, but bank customers have an important role to play in protecting their accounts. banks against fraud.”

“Do not disclose your PIN, CVV, BVN, one-time password (OTP), or other sensitive bank account information to anyone, even if the person claims to be a representative of your bank.”

“If your ATM card is stolen or the ATM swallows your card, block your account and report it immediately to your bank, do not ask for an ATM card. If you don’t really need it, cover your fingers when typing in your PIN and make sure no one is watching you from behind,” he added.

In his closing statement, the internet security expert said bank customers should educate themselves on how to prevent ATM and point-of-sale fraud.

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