Customers using ATM bank cards are being advised to exercise caution to protect their Personal Identification Number (PIN) information following debit card “skimming” which affected some accounts over the Christmas holiday weekend.
Checks by T&T Guardian confirmed the problem—involving fraudulently-obtained customer information—had occurred.
The banking industry definition of “skimming” refers to the use of fraudulent methods to obtain customer details by “skimming’ their debit/credit cards at point of use, whether ATM or Point of Sale.
Most commonly, the modus operandi involves attaching a mechanism or disguised device to the ATM’s card entry point that ‘skims’ (retrieves and records data) off customer cards. The data is then applied to a counterfeit card by the fraudulent operators and used to withdraw cash or purchase goods/services in T&T.
T&TG was told that the large scale “skimming” attacks are primarily the work of transnational operators, who target a specific country, obtain data and then use the counterfeit cards they are able to produce in foreign countries.
The Bankers’ Association of T&T (BATT) discussed the matter yesterday and subsequently issued the following statement.
“The Bankers Association of T&T aware that clients of some commercial banks have been affected by debit card skimming. In this instance, the Association is aware the incidents originated at one of our member banks. Each bank has been working closely with its affected clients to resolve this situation.
“Fraud incidents such as debit card skimming are a global issue and clients must remain vigilant at all times to protect their PIN numbers and other account information. The best line of defence against fraud is an informed consumer. BATT continues to work with its member banks and other stakeholders in educating clients against all forms of bank fraud.
”With respect to the specific occurrence, clients are advised to immediately contact their bank directly if they suspect any unauthorised activity has taken place on their account.”
In a check among BATT members earlier yesterday, RBC Royal Bank via a statement, had said it was aware of a number of clients who had been impacted by debit card skimming.
RBC said a small percentage of clients - about 200 - were affected and the bank had identified the points of compromise.
RBC said the bank had already addressed most of the affected clients yesterday. Most of them would already have been reimbursed, RBC added.
RBC’s systems which picked up on the problem when it occurred over the weekend, blocked accounts, locked out culprits, and alerted customers to contact the bank.
Yesterday, several affected customers were seen among the numbers in the “Accounts Services” line (handling Standing Orders, drafts and other services) at RBC Royal Bank’s Independence Square branch, Port of Spain.
Several confirmed “skimming” affected funds in US sums from their account.
One customer for example was hit by six occurrences of skimming on Christmas Day and right after, withdrawn in US funds totalling almost $10,000 (TT).
On what action was being taken to trace the situation to source and halt it, TTG was told yesterday that official investigations are underway into the matter.
Scotiabank T&T Ltd’s Richard Estrado said “People also need to be careful with point of sale (LINX) transactions to secure their PINs so persons around them cannot get hold of that information.”
Industry sources told TTG, care should also be exercised by customers using off-site ATMs—those which are not attached to a bank. FCB official referred to BATT’s statement. A spokesman for Republic Bank said declined comment.