The Economic and Financial Crimes Commission (EFCC) has issued a warning to Nigerians regarding unauthorized bank withdrawals associated with Automated Teller Machine (ATM) card swapping fraud.
In a statement released on Monday by the Head of Media and Publicity, Dele Oyewale, the commission highlighted the modus operandi of fraudsters involved in this illicit activity. Typically, these criminals possess a debit card from the same bank, and, masquerading as helpful individuals assisting a confused bank customer at an ATM, they deftly swap the victim’s card while memorizing the entered PIN using counterfeit cards.
The statement elaborated, “These fraudulent cards may become trapped in the machine due to an incorrect PIN, and the scammer promptly abandons the unsuspecting victim, advising them to report the incident to the bank. Meanwhile, the fraudster absconds with the victim’s card, making immediate unauthorized withdrawals from the victim’s account.”
