The experts disclosed that bankers are responsible for most ATM card frauds. He claimed that there are many ways an ATM card can be cloned.
Below are four ways your Automated Teller Machine (ATM) cards can be cloned and you may be defrauded:
1. A device can be slipped into the ATM that will read your card and give them the details.
2. There are people who could stand at a distance and see how you punch in your details. If they get your card number with the pin, they can activate it.
3. A PoS operator can put your card in a machine which to you looks like a PoS but might be a machine that reads the details on the card.
4. When buying things online and you are entering your details. Sometimes, some people put a fake site where you enter your details thinking that you are buying things. Suddenly, it will tell you “error” without you knowing that they have collected your details and they will start using it.
Further, the experts insisted that most of the frauds are insider jobs because it will be very difficult for professional hackers to come from outside to get personal information.