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Scammers Use ATM Card Slots to Steal Information
Pakistan has been plagued by financial frauds in recent times, with scammers using various tactics to deceive innocent citizens. One such tactic is the use of easily mounted devices on ATM card slots that can store information from up to 200 cards.
These devices are barely noticeable and can be installed without arousing suspicion. Once they are removed, the information stored in them can be easily retrieved and used to replicate those cards. The scammers then print the information onto a magnetic strip and paste it onto a plastic card, making it look like a legitimate debit or credit card.
Online Scams Also on the Rise
Apart from these physical scams, email phishing scams are also common in Pakistan. Scammers pose as bank officials and send emails to victims, asking them to provide their bank account details. The emails usually contain a form that needs to be filled out, and once the information is collected, it can be used to replicate debit or credit cards.
Online Payment Channels
With the rise of online shopping, online transactions have become increasingly common. People prefer instant dealings to avoid cash payments, but this also makes them vulnerable to cyber attacks and hacking. Scammers can hack into these accounts and transfer money to their own accounts.
Tips to Avoid Financial Frauds in Pakistan
To avoid falling victim to financial frauds, it is essential to be aware of the various tactics used by scammers. Here are some tips to help you stay safe:
- Ensure secrecy of your identity while making payments
- Secure your debit/credit card information
- Be cautious when providing personal information online
- Use trusted and secure payment channels
- Monitor your account statements regularly
Seeking Help
If you have fallen victim to financial fraud, there are several institutions that can help you. The Banking Mohtasib Pakistan (BMP) deals with complaints related to banking services, while the State Bank of Pakistan (SBP) has a department dedicated to consumer protection.
The Federal Ombudsman Secretariat also provides assistance to citizens who have been affected by financial frauds. You can contact these institutions for further guidance and support.
Contact Information
For more information on how to avoid financial frauds in Pakistan, visit Graana Blog.