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EFCC Unveils Fresh Cases of ATM and Debit Card Fraud


EFCC Unveils Fresh Cases of ATM and Debit Card Fraud

The Economic and Financial Crimes Commission (EFCC) has issued a warning to Nigerians concerning the surge in unauthorized ATM withdrawals, terming it a concerning trend.

According to Dele Oyewale, the EFCC’s Head of Media and Publicity, the commission has discovered a significant rise in ATM and Debit Card fraud. Fraudsters are reportedly swapping cards at ATM terminals, keeping a similar bank’s card, and deceiving unsuspecting customers by swiftly swapping their cards while memorizing their PINs.

Oyewale stated, “We’ve received numerous complaints about unauthorized withdrawals, linked to ATM and Debit Card swapping or fraud. Fraudsters keep a debit card from the same bank and, under the guise of helping a confused bank customer at an ATM, swap the card quickly while memorizing the PIN used with fake cards.”

This fraudulent activity occurs at various service points like POS terminals and ATMs. The EFCC urges the public to be cautious with their debit cards and offered helpful tips to prevent financial losses:

  • Keep cards in sight or secure places.
  • Always verify that the returned card after a transaction is yours.
  • Regularly monitor bank statements for unfamiliar transactions.
  • Set up transaction alerts for account activity.
  • Shield the keypad when entering PINs at POS/ATM machines.
  • Avoid rushing transactions and seek assistance from bank officials only.
  • Promptly block ATM cards if stuck or in case of any irregularities.
  • Familiarize yourself with the bank’s ATM offline blocking code.
  • Use the USSD code 966911# to instantly block a misplaced or stolen ATM card.

The EFCC emphasized its commitment to protecting individuals, businesses, and the nation’s finances from economic and financial crimes.


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