New Reports of ATM Fraud

Criminals Get Around PIN Numbers

Reports from across the country are showing that people have lost money directly from their accounts by crooks who have found access to PIN numbers as well as Debit cards. Although investigations are on-going, it is thought that some merchants have actually stored customers' PIN number accidentally because the software they use does so automatically. Most of these merchants have been identified and have taken measures to block any electronic storing capabilities. But to protect yourself, here are a few tips:

• Check your bank balances and statements frequently for any suspicious activity.
• Report any suspicious activity immediately to your financial institution.
• Change your PIN number frequently to protect your money  and your Debit card.
• Never give your PIN number to anyone, except as necessary to an official employee of your financial institution.
• Avoid PIN-based retail transactions, and choose instead to make signature-based credit card style transactions. That means pushing away the PIN keypad and signing a receipt instead. Doing so will limit the number of computer systems where a PIN may end up in storage.

Source: Money Works, April 2006, CBC Federal Credit Union Newsletter