'Tis the season to be wary— BancNet reminds ATMcardholders

ATM and payments network BancNet forecasts cash withdrawals from its ATMs to surge this week as people rush to complete their Christmas shopping. 13th month pay and Christmas bonuses have been paid out to employees' bank accounts and OFWs are remitting their cash gifts for their families this week if they have not done so yet. Unfortunately, this is also the time when cyber criminals will be exploiting this big opportunity to steal money through ATMs. According to BancNet general manager Aris Zafra, historically, interbank ATMtransactions have peaked on the Friday or payday before Christmas. "On December 18 last year, the BancNet system processed 3.4 million switched or interbank transactions, mostly cash withdrawals," Zafra shares. Moreover, banks are mandated by the Bangko Sentral to be EMV-compliant by January 1, 2017. EMV, which stands for EuropayMastercard-VISA, is a global standard for secure electronic payment transactions that uses chip technology instead of magnetic strip. "Cyber criminals will be working on the double these days, knowing they stand little or no chance once EMV takes effect next month," said Zafra. "Now, more than ever, cardholders have to be vigilant when using ATMs." BancNet reminds cardholders to be extra wary of criminal activities and fake devices while transacting at ATMs. Particularly, it warns against skimming devices, hidden cameras that capture the keying in of PIN, shoulder surfers (persons that look over your shoulder as you key in your PIN), and strangers that pretend to help with a transaction. Skimming devices are fake card readers that copy information on the magnetic strip at the back of a card and fake keypads that copy the cardholder's PIN. "It is most important to guard your PIN," says Zafra. "Even if your card information is skimmed and your card is cloned, no transaction can be made, whether at the ATM, point-of-sale terminals (POS), or online without the correct PIN." For safe and convenient ATM transactions this season, BancNet offers the following tips: 1. Withdraw cash before the weekend. Do not withdraw all of your salary or bonus. Instead, use your ATM card to pay for your shopping online or at department stores, supermarkets, bookstores, boutiques and other specialty shops that display the BancNet logo. Inform the cashier that you prefer to use your ATM card to pay. 3. Choose ATMs at secure locations. Watch your surroundings for suspicious persons. 4. Inspect the ATM for suspicious devices. The card slot, keypad, keypad cover, and cash slot should not wiggle. Fake devices, designed to steal your PIN and card information, are installed by fraudsters hurriedly, using only double adhesive or glue which makes them movable. Grope the underside of the keypad cover to check for tiny hidden cameras. If you find any of such fake devices on an ATM or observe anything unusual, do not proceed with your transaction. Report it to the security guard if there is one onsite. Immediately call your bank to report any problem. Keep handy your bank's customer service telephone number. 5. Guard your PIN. Cover your hand when keying in your PIN in order to shield it from a hidden camera. Cover your hand even if the keypad has a cover. 6. Make sure no one is looking over your shoulder while you are keying in your PIN. Never accept help from a stranger. This is to prevent anyone from seeing your PIN. 7. Change your PIN regularly. 8. Online, be wary of emails, links and bogus websites that ask for your PIN and bank account number. 9. Shop only at secure websites, such as those whose URLs or addresses start with "https" (the "s" stands for secure). 10. Do not disclose your bank account information and PIN on social networking sites. 11. Never access your bank account nor do transactions that require your PIN over public wi-fi networks. 12. Never give your bank details and PIN to unknown callers on your mobile. There are now over 19,000 ATMs and over 83 million ATM cardholders nationwide.