Be vigilant vs ATM fraud, BSP official urges public

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Monday, June 2, 2014

THE Bangko Sentral ng Pilipinas (BSP) has advised those with automatic teller machine (ATM) cards to change their pin codes regularly to protect them from scammers and fraudsters.

ATM card holders should also choose pin codes that are not easy, said BSP Asst. Gov. Johnny Noe Ravalo, who appeared in an executive session of the Cebu City Council.

Ravalo said ATM card holders should not based their pin codes on birthdays, anniversaries and addresses.


More advice

Those with more than one ATM card should not use the same pin code on all of them, he said.

He said ATM card holders should memorize their pin codes and report captured cards immediately.

When withdrawing money from ATMs, Ravalo said the card holders should inspect the machine before using it.

“If somebody is standing too close, do not be afraid to tell him or her to step back. If you still feel uncomfortable, let the other person go first,” he said.

Ravalo said ATM card holders should always shield the keypad when using the machine. They should also not share their pin codes with others.

Last year, the BSP recorded 1,718 cases of ATM fraud or scam nationwide, amounting to P205 million.

Mixed reactions

In a related development, Cebu City Councilor Noel Wenceslao said he will file an ordinance that will require all banks to deploy security guards in their ATMs 24 hours a day, seven days a week.

Cebu Bankers Club incoming president Gino Gonzales, who also appeared before the council, however, believes the proposed measure will not be financially sustainable, saying it will be an added cost to the banks.

Romeo Santander of the Cebu City Police Office, for his part, said he is in favor of passing the measure.

He said it will be a good force multiplier. (PDF)

Published in the Sun.Star Cebu newspaper on June 03, 2014.

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