India Reduces Individual Cash Withdrawals Due to ATM Fraud

State Bank Of India (SBI) - the biggest nationalised bank in India recently has announced that the amount of money allowed to be withdrawn by their customers from an ATM across the country will soon be reduced.

Talking about the reasons that made them come to this decision, SBI stated the bank wants to push Indian residents to turn to digital transactions as these methods can provide safer and faster transactions. However, it can be said that the main reason for this change is the increasing ATM fraud risks in India, which has concerned SBI the most these days.

According to report, the number of complaints about ATM frauds is rising surprisingly in India. On the other hand, to promote people to use digital transactions, the limit of money withdrawal will soon be applied for debit cards using Maestro as well as Classic platforms.

Beware of ATM skimmers

ATM card skimming is one of many fraudulent methods that hackers usually use to steal bank customers' information. This trick is done via a small devide called skimmer. during ther ATM transaction or openers. The skimmer is set up right on the top of the card slot. As the device is very tiny and not easy to be noticable, therefore if you do not try looking for it, you may not even notice the skimmer.

With the device sticked up to the ATM booth's card slot, the criminals can steal your pin number right at the moment you are typing to enter your ATM card password. After successfully getting the pin, they will be able to use this code to buy anything online or even print out a copy who is generate highsome.

Clearly, every time you go the SBI of any their banks, remember to check for any suspicious devices apprearing in the ATM booth to avoid being defrauded.