This type of fraud scheme is less likely to happen to someone bscause it requires physical interaction with a victim, and requires the people committing the crime to actually be caught by the ATM’s video camera.
However, it is very interesting to see how an ATM Card Switch scheme works in real life.
Watch the video below to see what I mean.
Tips for avoiding this kind of thing:
#1. BE aware. Not afraid, just aware. When you go to the ATM, look around. If something feels funny, it probably is. Pay attention to your instinct.
#2. Cover the PIN pad with your hand. If someone isn’t physically shoulder surfing, they may be recording with a camera. It costs about $50 to buy a wireless camera which will record for up to 8 hours. This can be installed by a thief on a Friday night after the bank closes and picked up Saturday morning before the bank opens (if they open at all on Saturday). Covering the PIN pad with your hand prevents this kind of activity.
#3. Hang on to your card. Unless the card is in the ATM machine, it should be in your wallet. If you let it out of your sight, there are people who can move very quickly to get it, and, as can be seen in this video, don’t be surprised at their ability to make you assume the card you have is yours.
Special thanks to The Real Hustle for putting this video together.