India’s biggest Bank Cautioning ATM Users To be Aware of Criminals

India's biggest Bank Cautioning ATM Users To be Aware of Criminals
India's biggest Bank Cautioning ATM Users To be Aware of Criminals

India’s one of the Biggest financial bank SBI has sent messages to its clients cautioning about ATM-related skimming Frauds . By the past numerous months the ATM skimming extortion has been on an ascent. The SBI cautions the clients against this misrepresentation as well as reveals to them how to report it and different techniques to report about it.

A year ago, the bank likewise decreased the ATM money withdrawal breaking point to Rs 20,000 every day. Here is all that you have to think about ATM card skimming, how to report such fakes and that’s only the tip of the iceberg……..

This ATM fraud led SBI to reduce withdrawal limit SBI reduced the ATM cash withdrawal limit to Rs 20,000 per day, from Rs 40,000 effective October 31, 2018. This fraud is one of the key reasons behind the move.

This year RBI launched new chip-based cards. To ensure double safety.

These days, skimming is the most common ATM fraud. The ATMs or POS machines can be rigged and the personal information can be stolen.

ATM skimming is simply stealing the banking details from the users’ ATM card.

Criminals install small devices called skimmers into the card slot of ATM machines or POS terminals.

These skimmers capture the information stored on the magnetic strip of an ATM card.

A camera mounted somewhere above the keypad captures the ATM pin as the user enters it in an ATM or at a shop.

Later they use these details to clone cards to withdraw machines from other ATMs or do online shopping.

Sometimes, criminals also place a thin film on the ATM keypad or POS machines to capture keystrokes.

In case of fraud, you can also claim a refund if you report the matter within 3 working days.

You can also report by sending an SMS by typing “Problem” and sending to 9212500888.

You can also call the customer care or report on Twitter @SBICard_Connect

If the fraud is due to some fault of SBI’s then the customer will get full compensation even if the fraud is not reported.

A customer will not get a refund if the loss is due to his/her negligence.