Imagine working so hard to earn money and just when you’re planning how to put your savings to good use your bank account it is swiped clean by fraudsters? Yeah, it’s one of the most horrible things ever to happen to any human. There have been reports of victims who went into depression, with some others committing suicide after losing their life savings to fraudsters.
While banks try their best but can’t guarantee total safety of customers’ accounts from criminals, there are security conscious efforts every bank account holder should adopt. Here are some useful tips to prevent your account from being accessible by fraudsters:
1. Cover the keyboard of an ATM with your hands when making a transaction
For more effectiveness, pretend to press more than 4 keys while entering your PIN code, as this will make it more difficult for a fraudster to identify your code even if there is a secret camera to record your transaction.
2. Try as much as possible to use ATMs located in bank offices only
Fraudsters would find it a bit more difficult to install gadgets into ATMs located in bank premises in order to retrieve vital information from your card. Most of the ATMs in bank offices are with surveillance cameras to spot any irregularity. So, check for any irregularity in the ATM before use, as fraudsters can install a small device that appears to be a part of the machine over the ATM card insertion slot to capture your data.
3. Secure your card information
Apart from your PIN code, make sure you secure your bank card details, particularly the CVV. Don’t carelessly display your card while on a queue to make a transaction or in a public place. You can also cover the back of your card with a sticker or non-transparent adhesive tape so that no one can see it. Fraudsters can copy the data from the magnetic stripe and use it in making a duplicate in order to gain access into your account.
4. Safeguard your account
You should never share your card details, internet banking log in and token with anyone over the phone, SMS or email. Do not give away your Internet Banking login, card details, PIN and codes from your token device to anyone, as banks will never ask for any of these details via any form of communication.
5. Give strange callers cold reception
One of many ways fraudsters bait their victims is by calling their lines and asking for vital bank account details under the pretense of being bank staff who want to render assistance for their customers. Such callers should be treated with disdain and cut off immediately.
6. Register to receive updates from your bank
Make sure you subscribe to SMS alerts to be delivered to your cell phone or email, so you can stay updated on your account activity. Ensure that you check your bank account statements and card transactions regularly in order to monitor all transactions made. If you see a transaction you cannot explain, report it to the bank.
7. Always use official websites when making online transactions
Be extremely careful when making transactions online. Use only trusted websites and platforms for your transactions.