Weekend debit fraud sweeps through Strathmore

Times Reporter  

 

A possible case of debit skimming has made its way to Strathmore. The banks cannot confirm or deny anything because they are bound by the protection of privacy laws. Upon investigation there are numerous confirmed cases, with thousands of dollars being withdrawn from unsuspecting accounts. There have been confirmed cases from just about every banking institution. 

Christin Reinhart received a text message from a friend on the morning of May 5. The friend was on her way to her bank, ATB, because she noticed $450 missing. When the friend got to the bank she messaged Reinhart again telling her to check her online account, knowing that Reinhart also uses ATB, and telling her that there were quite a few people at the bank with the same issue. 

“I did then go check my online bank and immediately noticed a debit transaction from May 4 for $452.17. The transaction said international HSBC debit,” said Reinhart. 

“So right away I went down to ATB and got in the very long line up. The lady (bank teller) was very helpful and gave us new bank cards as well as gave us a form to sign that they faxed right away to fraud department and said we would get it back hopefully in a few days as well as the $5 fee we were charged for some reason. She also said ATB would call us as soon as the money was returned.”

Reinhart also said in speaking to others in line there was a gentleman who had three debit transactions for the same amount withdrawn, all in a row. A woman in the line overheard the conversation, and when she asked the teller to check her account she found she was also debited that amount. 

Cheryl Libby’s bank caught on to the fraudulent withdrawal. 

“I bank with CIBC and had an international fraudulent withdrawal of 229.01. My bank caught it before I did and notified me that my card may have been compromised. I spoke with them and they were great and had already suspended my card,” said Libby.

“It gives me confidence that my bank is on top of things but It makes me a little wary as the new Chip technology is supposed to protect us more but does it really. I disabled the tap and go as I didn’t have confidence in that security. The use of a convenience card is nice, but being frauded sure isn’t.”

Fortunately for both women, they will be able to make it through the few days, or week, until the funds are returned to their accounts. 

While they also could neither confirm nor deny anything happening in town, Chinook Credit Union did release tips on how to protect yourself and your money.

Fraud is, unfortunately, not as an uncommon occurrence in our society as we would like for it to be. Quite often there is a misconception that fraud only happens to others, and never to us, but the truth is, it can happen to anyone. One of the most common types of fraud out there is debit card fraud. It involves the least amount of contact possible, and can be difficult to trace. The good news is, there are ways to protect yourself.

We wanted to touch base and remind everyone of the different ways to protect yourselves from debit card fraud.

1. PROTECT YOUR PIN.  Be aware when you enter your PIN. Be sure that no one can see from any angle, including above you. Fraudsters can’t commit the fraud without your PIN.  A great prevention tool is to change your PIN on a regular basis.  

2. Avoid using debit machines that have the swipe, rather than the chip function, as they can still commit fraud the old way with those machines (it will become legislation in 2015 that all merchants to be equipped with chip readers, rather than the swipe function).

3. Be aware of how deeply your card goes into the chip debit machines, tampered terminals may allow chip payment card to slide further into the terminal reader, enabling criminals to capture sensitive information from the magnetic strip. You should be able to comfortably have your thumb, from the tip of it, up to the first joint, on your card still when it is in the machine. If the card goes in deeper than that, don’t put in your PIN.

4. Keep your eyes on your card. If you can, don’t let another person handle your card. Preferably you would insert it into the machine, or, if absolutely necessary, swipe it.

5. When at ATMs or kiosks, check to see if everything looks normal around the card slot before putting your card in. Look for any edges that aren’t sealed down, etc.

6. Lastly, and importantly, be sure to check your accounts often, and report any suspicious transactions or activity including transactions that have not appeared through your account (which may be an indication of a bogus terminal) to your Financial Institution immediately. 

Outside of debit card fraud, if you believe that you have been defrauded, or approached by a fraudster, in a different manner, such as through an e-mail or telephone scam, please be sure to report it. Even if you caught on and avoided the fraud yourself, someone else may not be so lucky, and, by reporting it, you may help prevent it from happening to them. Fraudulent or suspicious activity should be reported to the Canadian Anti-Fraud Centre, through its website at www.antifraudcentre.ca, or by telephone at 1-888-495-8501. You should also report any fraud that has taken place on your account to your financial institution.

 For more information on fraud prevention, visit the Canadian Competition Bureau, and view their fraud prevention feature from Fraud Prevention Month in March.http://www.competitionbureau.gc.ca/eic/site/cb-bc.nsf/eng/h_00122.html.