The Economic and Financial Crimes Commission, EFCC, has alerted Nigerians to a new pattern of swapping Automated Teller Machine (ATM) cards used by fraudsters to defraud unsuspecting Nigerians, News About Nigeria reports.
In a statement signed by the Commission’s Head of Media & Publicity, Dele Oyewale, and shared on the official social handles of the anti-graft agency, the Commission explained that several well-meaning Nigerians had complained about unauthorized withdrawals from their bank accounts.
Upon investigation, the Commission traced such withdrawals to ATM debit card swapping or fraud.
The Commission further explained that fraudsters, in order to defraud unsuspecting well-meaning Nigerians, will keep a debit card of the same bank.
They pose as though they are helping a confused bank customer at any ATM point, swiftly swapping the card, making it difficult for the customer to notice, while simultaneously memorizing the PIN used with the fake cards.
When the swapped card gets stuck in the machine due to a wrong PIN, the fraudster quickly abandons the victim, advising them to report to the bank while making away with the victim’s card in order to make immediate withdrawals from the account before the owner discovers it.
Dele, who disclosed that the fraudulent practice is gaining momentum in Nigeria, also noted that card swapping is on the rise at any service delivery point, such as Point of Sale (POS) terminals, and ATM points, among others.
He, therefore, enjoined the public using banking services to be careful, observant, and vigilant whenever they are using their debit cards.
The EFCC also assured Nigerians that it will not relent in safeguarding personal, corporate, and national finances in its quest to rid the nation of all forms of economic and financial crimes.
