As technology evolves and changes so do the tactics that fraudsters use to scam people.
One of the threats that consumers are facing is card cloning, a shrewd practice that can harm the financial security of people.
Understanding card cloning
Card cloning, also known as card skimming, is a technique that fraudsters use to duplicate the credit or debit card information of consumers.
Fraudsters clone the cards of consumers by attaching skimming devices to ATMs, point-of-sale terminals, or handheld skimmers to secretly capture the card's sensitive details during legitimate transactions.
Nolwazi Nzama, Deputy Chief Risk Officer at African Bank shares protective measures consumers can take safeguard themselves against card cloning.
Be vigilant
Before using ATM or card machine, inspect the card reader and keypad for any suspicious attachments or loose parts. If you see that something that has been tampered with or looks suspicious do not use the machine. Instead report the situation immediately to the bank or store management.
Cover your PIN
Always use your hand or body to shield the ATM or card machine keypad before entering your PIN.
Use contactless payment
Make use of contactless payment methods, such as mobile payment apps whenever possible because they create a unique transaction code for each purchase. This makes it even more difficult for fraudsters to clone your card.
Monitor your accounts
Check your bank statements and transaction history on a regular basis for unfamiliar or unauthorised transactions. If you notice any unusual transactions, contact your bank to block your card and ask them to investigate the issue.
Enable bank transaction alerts
Make sure that the real-time transaction alerts that your bank offers are turned on so you receive instant notifications whenever a transaction is made with your card. These notifications allow you to quickly respond to any unauthorised activity.
Keep card information secure
Never share your card details, PIN, or other sensitive information over the phone, email, or text messages. Consumers need to remember that legitimate institutions will never ask for their banking details or personal information through these channels.
Secure online transactions
When you are shopping online, only use trusted and secure websites. Look for the padlock symbol in the address bar and "https" in the URL which indicates a secure connection.
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