The country’s largest nationalised bank, State Bank of India (SBI), has sent mails to its customers warning them of ATM-related skimming frauds. The ATM skimming fraud have been on a rise since past many months. The SBI letter not only warns the users against this fraud, but also tells them how to report it and other redressal methods.
In fact, last year, the bank also lowered the ATM cash withdrawal limit to Rs 20,000 a day. Here is everything you need to know about ATM card skimming, how to report such frauds and more
1.This ATM fraud led to State Bank of India reducing withdrawal limit
SBI lowered the ATM cash withdrawal limit to Rs 20,000 a day, from Rs 40,000 effective October 31, 2018. This fraud is one of the key reasons behind the move.
2.Starting January 1 this year, RBI disbanded all magstripe ATM cards. These have been replaced with new chip-based cards
3.Skimming is the most common ATM fraud these days. Either ATMs or POS machines can be rigged and personal information can be stolen.
4.ATM skimming is simply stealing of the banking details from the users’ ATM card.
5.Criminals install small devices called skimmers into the card slot of ATM machines or POS terminals.
6.These skimmers capture the information stored on the magnetic strip of an ATM card.
7.A camera installed somewhere above the keypad captures the ATM pin as the user enters it in an ATM or at a shop.
8.These details are then used to clone cards to withdraw machines from other ATMs or do online shopping.
9.Sometimes, criminals place a thin film on the ATM keypad or POS machines to capture keystrokes.
10.In case of fraud, you can claim refund if you report the matter within 3 working days
11.To report, you can send an SMS by typing “Problem” and sending to 9212500888
12.To report, you can also call the customer care or report on Twitter @SBICard_Connect
13.If the fraud is due to some fault of SBI’s then the customer will get full compensation even if the fraud is not reported.
14.A customer will not get refund if the loss is due to his/her negligence.
If the customer has shared the payment credentials like credit card details, PIN, CVV, OTP or due to improper protection on customer devices like mobile/ laptop/ desktop leading to malware/ Trojan or Phishing/ Vishing attack.