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Home Economy

Precautions when withdrawing funds. Have you heard of “cash trapping”?

by Ursula Curtis
July 11, 2022
in Economy
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cpork yourselftrapping moneyIt is a type of fraud associated with ATMs The machine is placed next to the banknote exit slot, in order to store the banknotes that users try to pick up on the machinesAccording to the Financial Education Portal Everyone is important.

“Users who try to withdraw, feel that the fact that they did not receive the banknotes is caused by a malfunction of the device. Later, someone else removed the banknotes kept inside the counterfeit machine,” explains the same portal.

What to do and how to prevent?

According to the Financial Literacy website, “Preventing this type of fraud involves Make sure the automatic teller machine is in good condition“.

That is, before inserting the card, you must check it “It shows no signs of alteration or vandalism, especially in the area of ​​card entry or banknote exit. If anomalies are detected, you should not leave the site, and immediately contact the police authorities.”

However, this is only one type of fraud associated with ATMs, but there are others: “One of the simplest forms of fraud is placing hidden camera, which records the security codes entered by users. There are also counterfeit devices placed in the card slot, which is dedicated Copy the inserted cards on the machines.

Read also: Cyrus. GNR arrests man trying to use ‘stolen’ ATM cards

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Ursula Curtis

“Writer. Analyst. Avid travel maven. Devoted twitter guru. Unapologetic pop culture expert. General zombie enthusiast.”

Ursula Curtis

Ursula Curtis

"Writer. Analyst. Avid travel maven. Devoted twitter guru. Unapologetic pop culture expert. General zombie enthusiast."

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