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The tricks of fraudsters with cards and ATMs

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The tricks of fraudsters with cards and ATMs

The good news is that banks are making millions of upgrades and investments in their security systems to protect their customers. The bad news is that experts find ways to deceive unsuspecting customers, using the internet and ATMs.

Banks in Cyprus, from time to time, with announcements warn their customers to be careful, not to enter sensitive information and to report suspicious cases of fraud. Customers usually receive deceptive sms, emails, as well as messages through popular messenger applications (Apps), mobile and computers, from strangers, with the aim of deception. The communication requires the entry of sensitive information, such as user password and 1bank password, user codes (OTPs), numbers and other card information or to click on an electronic link (link) to gain access to customer accounts for money transfer amounts or and use of their cards. There are also fake bank websites.

Malicious emails include links to official banks' logo, which redirects them to a fake website,'s supposedly official co-operation bank, where they are asked to disclose their financial and personal information. Fake banking websites are quite similar to legitimate banking websites. The scam is revealed relatively easily by observing the URL of the website but also several spelling and syntax errors, which would never exist on an official bank page.

They joined forces for information

Everyone has joined forces on the issue of informing the public. The Digital Security Authority, the Cyprus Police (Cybercrime Sub-Directorate), the Central Bank and the Cyprus Banking Association have launched a joint information campaign to create a shield against those who use electronic methods to deceive / deceive citizens. . According to the announcement, the campaign called ASPIS (Information Security and Information Security) aims to inform about the common practices applied by experts, in order to gain access to their personal data and bank accounts or to involve them in fraudulent procedures in order to the withdrawal of funds. As of September 25, 2021, the information campaign on social media, television and radio has started.

Credit cards

The anti-crime website provides advice to investors on credit card fraud. He states that the methods that can be used for credit card fraud are:

● the copying of data with special machines and microcameras for monitoring and recording the code (PIN Number) at ATMs, which is the most common method in Cyprus,

● the method of locking the card in ATMs with the simultaneous use of special machines and microcameras for monitoring the code, where when the customer leaves the ATMs the perpetrator withdraws it and starts using it himself,

● theft of card and codes from various experts and immediate use. Cards can be stolen from mailboxes, cars or bags.

● copying card data with special small machines and copying the data to other empty cards and direct use. This is usually seen at points of sale by suspicious sellers, waiters, etc.,

● theft of card numbers when using cards in stores or other places where payment is made,

● theft of card details via the internet.

Online fraud

The Office of Economic Crime Investigation states that the key to prevention is to be suspicious of any postal or electronic (e-mail, sms) letter coming from an unknown sender.

• If you receive a message or letter that you have won a lottery abroad and they ask you for anything to allegedly send you the winnings, do not respond. Just ask yourself. Which person or organization gives large sums of money for free? You do.

• If you receive a message or letter that you inherited property abroad, especially in Africa, do not believe it. If they still ask you for help in exporting their own property from Africa in exchange, do not respond even out of curiosity.

• If you receive a message from your bank for any reason to allegedly confirm your account number or your credit card number or pin numbers, do not believe it. Your bank will never contact you about such matters in this way. In case you respond and are deceived, you risk not being compensated by the bank. It is best to contact your bank immediately in another way to confirm.

• For online shopping you need to be aware that you are taking a big risk. If you do not know your supplier avoid doing so. If absolutely necessary, before paying, confirm that the supplier's details are true so that you can locate him later if he does not meet his obligation.

• If you sell something online, do not accept payment by check or credit card. There is a high probability that they are counterfeit or stolen and you will be asked to compensate later.

Mode of action of fraudsters

• The goods are presented at lower prices than usual, in order to attract victims.

• The contact between the victim and the scammer is made via e-mail.

• After the first contact, there are others that can be done over the phone.

• Most often criminals are presented as owners using different names. In this way they deceive their victim and make it more difficult to locate them.

• It was found that criminals, in addition to using different names each time, use different titles such as directors of companies in order to make the whole process seem more formal and of course to mislead their victim more.

• Regarding the sale of cars, criminals send to their victims by e-mail, fake documents of the car, with which they describe its various characteristics.

• Criminals, in order to achieve their goals, also use misleading websites of so-called transport companies which guarantee the safe collection of money on behalf of their “customers”. However, when the payment is made by the victim, these websites are immediately withdrawn from the internet and the criminals cannot be located unless they try again to deceive their victim by misinforming them even more. They mention e.g. that the customs authorities should be paid or tell them anything else they think if they feel that their victim will continue to pay.

• Many times the victim is required to pay through Western Union or by transferring money to a bank account. In this case the criminals use (rent) bank accounts of students or unemployed who receive for the use of their account some money. These individuals, who in essence act as bearers, are instructed by criminals to immediately withdraw the money transferred to their account and then send / transfer it to them (criminals) using Western Union several times.

• If the payment is made to a company, whether it is fictitious (straw) or a legitimate company engaged in the collection of money on behalf of third parties, the money is usually transferred to East Asia and later back to Europe or Africa.

Protection and immediate response measures

In the event of a cardholder finding a lost or stolen card, they should immediately notify their bank and JCC. Particular care should also be taken when using the cards at ATMs. If any foreign object is found in the machines, the bank and the Police should be informed immediately.

Cardholders should make sure that no strangers are near them during use. Cardholders must keep their receipts and check their account statements every month.

The secret number, PIN number, must be memorized and not written anywhere. To use the card for online transactions, users are required to use the special cards provided by banking organizations.

They prefer to cheat online and over the phone

The European Central Bank, in its report, notes that card fraud is mainly carried out through the internet, postal and telephone channels. The report distinguishes between two main types of card fraud: Physical card fraud, such as cash withdrawals using counterfeit or stolen cards, and remote fraud for online and other payments using fraudulent card data such as e-fishing. (phishing).

As in previous years, the majority of fraudulent card transactions took place remotely, by post, telephone or online. They accounted for 79% of the total value of card fraud issued to SEPA (Single Payment Area), while point-of-sale (POS) and ATM fraud accounted for 15% and 6% respectively. The value of fraud as a share of card transactions in Cyprus is 0.013%, in Greece 0.007%, in Italy 0.049%. Fraud rates in France and the United Kingdom were highest, while rates in Romania and Poland were lowest.


Source: 24h.com.cy

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