Over the years, we have seen or heard of cases of innocent people falling victim to crimes carried out by fraudsters.
Many have lost huge sum of money to these scammers.
It is important to know how these people operate and try to avoid being a victim.
For the purpose of this article, I will explicitly explain the ten ways you can safeguard your money and avoid being arrested as a suspect of a crime committed by another.
1. Avoid ATMs at isolated sites: No matter how cash stranded you are, do not use ATM in an isolated area where there are few passersby or suspicious faces.
These areas are mostly visited by criminals.
2. Request for a Utility Card: If you are the type that carry out frequent transactions on your account with your debit card, it is advisable that you get a utility card from your bank.
Once you have a utility card, you can leave your main debit card at home and then transfer part of your funds into the utility card.
This card is acceptable on POS, online and ATMs.
The advantage of a utility card is that once it is obtained forcefully by criminals, they can only access the funds in it and not the entire funds in your account.
3. Request for a Virtual Card: Unlike the utility card, the virtual card is not a physical one. It is usually linked to your account (internet banking) for online transactions.
It saves you the risk of taking your physical card from one place to the other.
4. Avoid storing your bank details on your phone: Always ensure that you delete your transaction details such as credit and debit alerts on your message inbox or email inbox.
Do not store your password or security details on your phone because you stand a risk of fraudulent transactions on your account once the phone falls into the hand of a criminal or fraudster.
5. Avoid rendering Assistance at the ATM stand: Do not help anyone make withdrawals on their behalf at the ATM stand.
If anyone walks up to you for assistance, kindly and respectfully direct the person to the bank security officers around.
There are cases of people who were given debit cards to help withdraw cash from ATM. Unknown to the kind victim that the person is a criminal and has stolen or obtained the card at a gunpoint from the cardholder.
Once the withdrawal was made, the CCTV captured the withdrawal's face.
The cardholder reported the card stolen and used for fraudulent withdrawals. Investigation was carried out and the CCTV footage revealed the person who made the withdrawal with the card as the criminal. The victim is then arrested and punished for a crime he knows nothing of.
Moreso, do not accept transfers from people you don't know in exchange for cash. Fraudulent transactions carried out by criminals can be traced through transfers.
6. Know your bank's customers service lines: Try to memorise your bank's hot lines that you can call in case of emergency like lost of card, unauthorized transactions, etc for quick intervention.
Also know the self-help short codes that you can dial to block your lost card, temporarily request for a lien on your account, etc.
7. Secure code: Do not input your debit card details especially the CVV, last 4 digits on merchant's site that you are not comfortable with.
Most sites are not secure and carrying out transactions on unsecure sites makes you vulnerable to attacks by fraudsters once you input your card details.
Ensure you only carryout transactions online on merchants' sites that have the secure code logo.
8. Keep your bank details secure: Do not disclose your banking details to a third party. Keep them away from prying eyes.
Once you feel your personal details have been compromised, it is advisable that you change your internet banking log in password, email address password, debit card PIN and if need be, deactivate the card and request for a new one at the nearest branch.
9. Create a sub account: Request for a sub account to be created for you along with your main account.
Funds not for immediate use can be moved into the sub account.
Once your card is stolen, withdrawal can only be made from the main account, thereby saving you from losing your entire funds.
However, some transactions done via short codes on the mobile number registered to the account tend to go through on sub accounts. So, it is advisable that you contact your bank and request that short codes transactions are deactivated from your sub account.
10. Restrict card usage in certain location: Some banks give access to customer to decide where their debit card can be used.
For instance, you can restrict your card from being used online, on POS or on ATM. You can also restrict it from being used in certain location, e.g. international/ overseas or certain states.
This function will give you control over the usage of your debit card.
I hope this information was useful?
Please, don't be a victim to what you can avoid.
Remember, ignorance is not an excuse in the law court.
Do not let your guard down. Be vigilant at all times.
Content created and supplied by: Deblessed (via Opera News )
Opera News is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of Opera News. Any/all written content and images displayed are provided by the blogger/author, appear herein as submitted by the blogger/author and are unedited by Opera News. Opera News does not consent to nor does it condone the posting of any content that violates the rights (including the copyrights) of any third party, nor content that may malign, inter alia, any religion, ethnic group, organization, gender, company, or individual. Opera News furthermore does not condone the use of our platform for the purposes encouraging/endorsing hate speech, violation of human rights and/or utterances of a defamatory nature. If the content contained herein violates any of your rights, including those of copyright, and/or violates any the above mentioned factors, you are requested to immediately notify us using via the following email address operanews-external(at)opera.com and/or report the article using the available reporting functionality built into our Platform See More