EFCC Warns Nigerians Against ATM Card Swap Fraud

The commission said card-swapping incidents occur at various service delivery points, including POS terminals and ATM points.


The Economic and Financial Crimes Commission (EFCC) has alerted Nigerians against unauthorised bank withdrawals linked to Automated Teller Machine (ATM) card swapping fraud.

The commission issued the alert on Monday in a statement by the Head of Media and Publicity, Dele Oyewale.

According to the EFCC, fraudsters engaged in this activity typically keep a debit card from the same bank and, under the guise of assisting a confused bank customer at an ATM, swiftly swap the card while memorising the PIN used with fake cards.

“These cards get stuck in the machine due to a wrong pin and the fraudster quickly abandons the victim, advising the victim to report to the bank while making away with the victim’s card to make immediate withdrawals from the account,” the statement added.



The commission highlighted that card-swapping incidents occur at various service delivery points, including Point of Sale (POS) terminals and ATM points.

Expressing concern over the increasing prevalence of this fraudulent practice, the EFCC urged the public to exercise caution when using debit cards and listed the following tips to mitigate the risk of financial losses:

1. Cards should be kept in sight or a safe place. Whenever you get your card back after making any payment, make sure it is actually your card and not just one that looks similar.

2. Regularly check your bank statements for any unknown transaction.

3. Set transaction alerts to monitor any activity on your accounts or with your bank card.

4. Cover the keypad with your hand or body when entering your PIN at POS terminal/ATM machines.

5. Do not be in a rush to make payments or withdrawals and request for assistance only from officials of the bank.

6. Call your banks to block your ATM cards immediately when your cards are stuck in the ATM machines or whenever you observe any irregularity.

7. Ensure you know your bank’s ATM offline blocking code and quickly make use of it whenever it is misplaced or stolen.

8. Dial the USSD code *966*911# and follow the pop-up instructions to block your ATM card instantly.