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Rise in ATM fraud

Rise in ATM fraud

Category: Money

Updated: 06/06/2013
First Published: 06/06/2013

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Thieves are becoming more prolific and audacious when targeting customers at cash machines, according to figures from the Financial Fraud Action UK.

Incidents where people have had their bank card or PIN number stolen have tripled over the past year, with 7,525 cases reported in the first four months of 2013 compared with 2,553 in the same period in 2012.

Common methods of committing fraud at ATMs, according to the police, include 'shoulder surfing' whereby fraudsters peer over the cardholder's shoulder whilst the PIN number is entered onto the ATM keypad.

Thieves then distract the customer's attention, by engaging in conversation or suggesting they have dropped something, then promptly steal the card from the ATM dispenser.

It is thought that the rise in ATM theft is due to the chip and PIN method of payment becoming commonplace, with frausters reverting to more basic ways to commit their crimes, rather than relying on complex and hi-tec methods.

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Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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