Sunday, April 21, 2024

Expert sends ATM, credit card warning


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BARBADOS is being warned to be on the lookout for signs of credit card and Automated Teller Machine (ATM) fraud.
The caution has come from marketing and deployment self-service manager at NCR, Ricardo Saenz, who told the BARBADOS BUSINESS AUTHORITY that global trends suggested that fraud was on the increase, especially in tourist destinations.
“I have been to some of the other islands and I know they are working on it but I would insist that more effort is taken to really be on the lookout because lately fraud has been moving to tourist locations and the Caribbean is an important tourist location,”?he said.
“We have already seen it in the Dominican Republic so we have to be very careful.”  
Noting too that some Latin American countries were already seeing an upsurge in credit and debit card fraud, Saenz said culprits were becoming more sophisticated.
He said scammers were known to use creative ways of stealing cardholder information, for example by installing cameras in ATMs or by a method known as skimming.
“Cards are not only skimmed in ATMs. The largest skimming operations go on at the point of sales in stores and especially restaurants. That is the most dangerous place . . . . So we have to teach customers to be more protective of their cards and information,” he cautioned.
Skimming is the theft of credit card information through the use of a small electronic device (skimmer) to swipe and store the cardholder’s information for later use.
Saenz said fraudsters were investing heavily in their schemes, and suggested that governments put more stringent measures in place for the legal system to better deal with those guilty of fraud.
He added: “Unfortunately . . . the bad guys can go free very quickly because there are legal ways around things; they can always get out on bail and they disappear”. (MM)


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