Rise in ATM fraud - Money - News - Moneyfacts


Rise in ATM fraud

Rise in ATM fraud

Category: Money

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

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 It is now over 6 months old so the content may be out of date.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.

What next?

7 Top tips for ATM safety
Credit Card Search – find the best credit card for you
Compare the best cashback credit cards

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 Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Would you spend more for a character property?

We all have our own ideas of what makes a dream home, and for many, character features are at the top of the list. But how much more would you be willing to pay for those kinds of additions – and could they even help you save money in the future?

A quarter of Brits have fallen victim to a scam

Think you know how to spot a scam? It may not be as easy as you’d think, with 25% of Brits admitting that they’ve been the victim of one in the past, and a further 73% are concerned about being scammed in the future.

Brits’ bad spending habits revealed

Many of us like to think that we’re good with money, yet there are often things that get in the way of regular saving and financial security. Solution Loans has taken a look, and has identified the bad spending habits that leave us in the red.