Outsmart Scammers: Don’t Get Cashed Out At The ATM This Season

When it comes to accessing your money, ATMs were designed to be easy, saving you time during a short lunch break or after the bank closes. And especially now during the holiday season, most of us are grabbing our cash wherever is most convenient. But a new scam is out there and con artists have found a way to quickly and easily steal your account information and PIN access number without you even knowing.

The scam goes like this: a thief builds an ATM machine with a touch screen, keypad and convincing-looking stickers of cards the machine accepts. On the inside, instead of cash or the mechanical intricacies of a real ATM machine, the person has installed an easy-to-assemble signal transmission system. After placing the machine in a public place, cash-strapped bank customers insert their cards and enter their PIN to access money. The machine then displays an error message like “We are unable to process your request at this time.” By then, the crook has already stolen card and PIN information. It’s a simple scam, but there are ways to protect yourself and your money. Here are some tips from the Federal Trade Commission.

• Never use a free-standing ATM. If it’s outside on the street or in a corner somewhere, be suspicious. Wall-mounted machines, especially in banks, are the most secure.
• If you get an error message at any ATM, call your bank immediately. If they have no record of your attempt, cancel the card and order a new one.
• Be wary of attractive offers on ATMs like “No Fees.” People who own real ATMs are in business to make money from transaction fees. If it’s too good to be true, it likely is.

Even with a real ATM, thieves can still access your information by peering over your shoulder or mounting hidden cameras. Always be vigilant when withdrawing money and if you notice anything suspicious, contact your bank. Check out Identity Theft Tips and the FTC’s website for ways to avoid ATM and credit card fraud.