EFCC Warns Nigerians Against ATM Card Swap Fraud

Nigerians have been warned by the Economic and Financial Crimes Commission (EFCC) to be cautious of unauthorized bank withdrawals that are associated with ATM card swapping fraud. The commission released a statement on Monday through its Head of Media and Publicity, Dele Oyewale, alerting the public of this fraudulent activity.

The EFCC explained that fraudsters involved in this scam usually keep a debit card from the same bank and swap it with the victim's card while pretending to assist them at an ATM. They memorize the PIN used with fake cards and abandon the victim after the card gets stuck in the machine due to a wrong PIN.

The fraudsters then advise the victim to report to the bank while making immediate withdrawals from the account with the victim's card.

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EFCC Alerts Public on ATM Swapping Fraud

The Economic and Financial Crimes Commission, EFCC, has been inundated with barrage of complaints from well-meaning Nigerians concerning unauthorized withdrawals from their bank accounts, which investigations by the Commission have linked… pic.twitter.com/dR7t2CW3eS

— EFCC Nigeria (@officialEFCC) November 27, 2023

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