Business
Bank customers decry rising swapped card cases
By Tumininu Ojelabi Hassan
In recent times, financial institutions and customers have been faced with the persistent hurdle of ATM card frauds. Unsuspecting bank customers, particularly, the elderly and those with no proper knowledge of ATM operations have raised their concerns over the rising cases of card swapping fraud, which has led to the loss of millions of naira.
As technology advances, fraudsters have continually gained more proficiency in the act of defrauding people of their hard-earned money. From skimming to phishing and card swapping, fraudsters have developed new tactics to swindle unsuspecting customers of their money.
The most common of all the aforementioned tactics is card swapping, which has become the most rampant in recent times. Fraudsters obtain and swap ATM cards of unsuspecting bank customers, especially the elderly ones by distracting them as they use ATMs, or they feign concern when customers experience difficulties while transacting and offer assistance.
Motunrayo Bajomo, a 64-year old victim of card swapping fraud, who shared her plight with our correspondent, said N250,000 was withdrawn from her Access bank account.
“On October 23rd, I went to withdraw N20,000 at Access bank’s ATM. I was having challenges with the ATM, it wasn’t responding and there was no security officer nearby to call, perhaps because it was after working hours. One young man, who wanted to withdraw noticed how worried I was and asked me what the issue was, I told him the machine wasn’t responding.
“He offered to help me and withdrew N20,000. I was happy thinking he had done me a favour not knowing it was the other way around. Unknowingly, after the withdrawal, he swapped my card with an expired ATM card. Later at night, I got a debit alert of N250,000. I was shocked because I only withdrew N20,000, so I kept asking myself how come. I called my son and narrated what happened to him, he told me to check the ATM card with me, only for me to check the ATM card, then I discovered my card had been swapped.
“At this point, I became nervous. My son told me to call Access bank’s customer care immediately to block the card. I called them, I explained everything that happened and I requested for my ATM card to be blocked. The next day, I went to the bank to lodge a complaint. I was told to fill a form and afterwards investigation will commence. I have been on this issue since then. Anytime I remember the incident, it breaks my heart because I don’t work anymore because of my health status. I live on allowances from my children,” she bemoaned.
While recounting his ordeal with our correspondent, Saheed Bello, a 47-year old carpenter, said the fraudster, who assisted him when he encountered difficulties while trying to withdraw at the ATM, withdrew N470,000 from his FCMB account and he had been receiving threats from his clients, who owned this money.
“I wanted to withdraw N30,000 but I had difficulties operating the machine and I couldn’t go into the bank because they had closed. The time was about 5 PM. A man, who is most likely in his mid 30s, was waiting behind me, as the other machines weren’t dispensing cash temporarily. When he noticed that I was wasting time, he asked what the problem was, I told him after inputting my pin in the machine and selecting the amount, the machine stopped responding.
“At that point, I was scared that the machine had swallowed my card. He offered to help me. He pressed the cancel button, we waited for a while before my card was out, he instructed me to insert my card into the machine again, I did and inputted my pin, he asked me the amount I wanted to withdraw, I told him N30,000. The ATM dispensed the N30,000 cash.
“The guy gave me the cash and my ATM card. I didn’t know he had swapped the card and I wasn’t aware he had memorized my card pin when he told me to input it. At about 11:20 PM in the night, I got a debit alert of N470,000. Immediately, I became confused and was wondering where the debit alert came from.
“I called my bank’s customer care to explain what had happened, they said the transaction was initiated with my ATM card, I told them my ATM card was in my pocket and I had not initiated any transaction aside the N30,000 I withdrew in the evening. While this was going on, I got my ATM card from my pocket and I realised it had been swapped. “Immediately, I told the customer care agent to block the ATM card, saying I just realised my card had been swapped. The card was blocked immediately and the next day, I went to the bank to lodge a complaint. I was told to write a letter to the manager and that the investigation will take about five working days.
“My clients have been threatening me over this money. This money doesn’t belong to me, the money is for a 5-seater sofa, Centre table and TV console. I am in serious debt because of this issue,” he lamented.
Peter Nwankwo, a 71- year old retired teacher, who lost N200,000 to a card swapping fraud, said he couldn’t operate the ATM due to his bad eyesight, unfortunately, the young man, who offered to help him swapped his card.
“When I was trying to withdraw and I couldn’t see clearly, the young man, who wanted to withdraw at the ATM offered to help me because I couldn’t see the screen properly. He helped me withdraw N10,000, and he gave me my ATM card. After about 3 hours, I received a debit alert of N200,000 from Access bank.
“I was perplexed and I didn’t know what to do. I approached one of my tenants and narrated what happened. He told me my ATM card was swapped by the young man I met at the ATM point earlier. He called the customer care line immediately and told them to block my card. My tenant accompanied me to the bank the next day to lodge a complaint. I filled a form and they told us to check back after five working days,” he said.
An Access bank staff member, who spoke with our correspondent on condition of anonymity, revealed that the branch, where she worked had recorded almost 20 cases of swapped ATM card within five days, adding that the criminals weren’t relenting in defrauding bank customers. She revealed this in a message, warning customers against receiving help from strangers at the ATM galley.
“Please let’s try to tell everyone around us to avoid receiving help from strangers at the ATM because we have recorded almost 20 cases of swapped ATM cards since Monday and these guys are still doing a lot. Also, if you are trying to withdraw at the bank, don’t ever reply anybody trying to get your attention, because these guys make use of charm to divert your attention,” the message stated.
She further revealed that the elderly ones were the most vulnerable, as a result of their inability to operate the ATM.
“About 80% of the victims of swapped card fraud are the elderly ones because they are the most vulnerable. These criminals leverage on their inability to operate the machine to offer help and then swap the card. Customers, especially, the elderly ones have to be careful while using the ATM.
“If you are having issues with the ATM, the best thing is to seek the help of Banks’ staff. Do not give a stranger your ATM card or tell a stranger your pin. It is better not to communicate with them at all so you don’t get distracted. It is risky. People have lost millions of naira within one week due to this. Criminals keep introducing new tactics to scam people everyday, so customers have to be very careful and vigilant,” she warned.
To curtail the fraudulent activities on customers’ accounts, Access bank has provided security tips to protect its customers against losing their money to fraudsters. Some of these security tips include:
“Be mindful of your surroundings, if the machine is poorly lit or in a secluded area, use another ATM. Lock car doors and roll up windows when using drive-through ATMs. Do not leave keys or valuables in the car when using an ATM. Have your card ready to avoid having to go through your purse or wallet.
“Make sure that no one nearby can view your PIN or transaction amount. Do not count cash while standing at an ATM; put your cash, card, and receipt away immediately. After completing an ATM transaction, remember to take your card and transaction record, do not leave your receipt behind.
“Check it against your monthly statements. If your card becomes stuck inside an ATM machine, be suspicious of anyone offering their help, even if they appear to be a bank security officer. Do not accept help from strangers. Do not ask strangers to help you make withdrawals with your card. Do not give your PIN to a stranger to assist you, and lastly, Protect your card and PIN,” Access bank warned.