BSP warns against ATM, text scams amid holiday rush

MANILA, Philippines - The Bangko Sentral ng Pilipinas (BSP) reminded the banking public to take extra precaution against the modus operandi being employed by unscrupulous individuals taking advantage of those using automated teller machines (ATMs) during the holiday rush in time from the Christmas season.

The BSP re-issued an advisory warning the public against ATM switching during their withdrawals, inquiries, and Point-of-Sale (POS) transactions. 

“It has come to the attention of the BSP that unscrupulous individuals resort to a modus operandi, with some variations, to unsuspecting ATM cardholders resulting in the switching of ATM cards and unauthorized withdrawals,” the BSP stressed.

Based on reports, the BSP said a suspect will approach the legitimate ATM cardholder after the latter has completed her or his ATM transaction telling him or her that there is money such as P1,000 bill still stacked in the machine.

The BSP pointed out that the suspect would then ask the victim to make a balance inquiry of the account, giving him the opportunity to look at the Personal Identification Number (PIN) keyed-in by the victim and would then drop a bill saying it came out of the machine purportedly as part of the victim’s withdrawal.

While the cardholder is busy picking up the money, the central bank said the suspect would then remove the ATM from the machine and switch it with another ATM card.

Furthermore, the BSP warned that PIN may also be stolen through shoulder surfing that happens when someone stands close enough to the ATM card holder to see the cardholder entering his or her PIN.

The central bank urged cardholders to always shield the keypad to protect yourself from theft of PIN through ATM card switching, shoulder surfing or other methods.

“If you feel that somebody is standing too close, don’t be afraid to tell the next person who is in line to step back. If you feel uncomfortable, allow the other person to go first and complete your transaction once he or she has left,” the BSP added.