EFCC warns Nigerians against ATM swap fraudsters

The EFCC has alerted Nigerians to be wary of ATM switch scammers, who have been the subject of many complaints to the commission.

Mr. Dele Oyewale, the EFCC’s Media and Publicity Head, issued the warning in a statement on Tuesday.

He said that the commission’s investigations have revealed that ATM debit card switching or fraud is behind the illegal withdrawals from customers’ bank accounts.

He explained that the scammers’ technique involved holding a debit card from the same bank and swapping it with a confused bank customer at any ATM.

“They quickly switch the card without the customer noticing and memorise the pin used in testing the fake cards.

“These cards get jammed in the machine because of a wrong pin, and the scammer swiftly leaves the victim, telling him/her to go to the bank while taking the victim’s card to withdraw money from the account.

“This card swapping usually occurs at any service delivery point, such as POS terminals and ATM points, among others,” Oyewale said.