Debit Card Fraud Alert

on Wednesday, 25 July 2012. Posted in News

Financial Institutions have reported a rapid increase in incidents of debit card fraud in Jamaica and C&WJ Co-operative Credit Union Limited is alerting our members to be wary of possible scams and to take every precaution to prevent unauthorized access to their accounts through their debit cards.

Debit Card scams range from the simple, to complex and well organized schemes. Scammers will, for example, tamper with ATMs to make it difficult for members to insert their cards. The fraudsters will then join unsuspecting persons in the ATM vestibule, supposedly to offer assistance, but with the objective of obtaining the individual's Personal Identification Number (PIN) and debit card information.

More sophisticated methods of debit card scams include the installation of micro-cameras, scanners and card-reading devices, which may not be easily noticed, in ATM vestibules. These devices capture the PIN and electromagnetic data from the legitimate card which are then delivered electronically to the fraudsters who create a cloned debit card for fraudulent use.

Such scams are external to the Credit Union and are not breaches of our internal controls. C&WJ Co-operative Credit Union is therefore not liable for such fraudulent activity on debit cards, as stated in the debit card agreement. The Credit Union, however, is willing to provide assistance to members in dealing with the issue.

To minimize the possibility of a fraud on your account, we are encouraging you to take the following precautions:

  • Shield your PIN from onlookers when conducting transactions at an ATM or point-of-sale terminal.
  • Never let your debit card out of your sight when conducting a transaction, especially in buildings that have tinted windows.
  • Check your statements regularly to verify all transactions.
  • Check the ATM vestibule and ATM for strange devices and hidden cameras, prior to conducting a transaction.
  • If possible, utilize ATMs that have security guards instead of standalone ATMs.
  • If your debit card is lost, stolen or retained by an ATM, notify the Credit Union as soon as possible.
  • Your debit card number and PIN are the keys to your account(s). Never disclose them to anyone.
  • Memorize your PIN. If you suspect that someone knows your PIN, change it immediately.
  • Report cases of suspected fraud by calling the Fraud Squad at 922-2374.

The Credit Union publishes this advisory as a reminder to our members. This information has been available at all our branch offices in the form of a flyer as well as on our website for some time now.

The video below shows how the data from your card can be cloned and provides some useful tips for protecting your card data: