SBI issues fresh advisory against ATM frauds

State Bank of India (SBI) has come out with a detailed advisory to customers in view of the increasing reports of ATM frauds, and has emphasised the need to be more “alert, cautious and vigilant in their own interest”.

“The public, at large, should be aware of the risk factors while downloading apps on their mobile devices, cards taken for use in PoS machines not within sight, or unintended sharing of OTPs to prevent skimming/cloning.”

Security features

The advisory by the Local Head Office of SBI here has urged customers not to share banking password/PIN with any one, store them in a mobile device, or share such sensitive information when asked for over the telephone. Do not encourage calls from unknown numbers related to ATM/bank matters. In case of suspicious or fraudulent calls, get it disconnected immediately and bring it to the notice of the bank, the bank said.

Banks have also made available security features such as fixing up daily/monthly/weekly limits based on customer requirement to reduce chances of falling prey to fraud and losing money through internet banking, or through apps developed by them.

SBI YONO allows customers the facility to withdraw money without using a card at the ATM. There are also apps that allow the customer to keep the banking activities locked by enabling the app-lock feature on payment and mobile banking apps.

“Ask your bank to guide you if you are not aware of such facility by virtue of which you can switch on/off as and when necessary, and keep the card in switch-off mode when not in use,” the advisory said.

Mag-stripe cards are now being replaced by EMV chip cards. Any person using an ATM card should ensure that the card held by him/her is totally protected from attack by fraudsters. All banks prefer customers to change frequently the ATM PIN, which is to be done very secretly. While changing the PIN number, it must be ensured it is not in a format that is easily guessable.

For instance, avoid using first or last four digits of the card/mobile/telephone number, date of birth or year of birth.

Many frauds have been perpetrated by making a trial and error method of using such details.

AnyDesk, other apps

“Never allow strangers to guide you to installing ‘AnyDesk’ or similar apps. Banks send SMS alerts to the registered mobile number regarding withdrawal of money or transaction done for e-commerce/PoS purchases using cards linked to the number.”

Immediately on receipt of such alert messages, cardholders have to act fast as per message received. Banks accept return SMS messages to a specified mobile number in the alert message, or expect a call in the toll-free number, if the transaction is a fraud.

COMMENT NOW