Warning on ATM fraud
Banking and ATM experts have issued a warning about escalating ATM fraud in Thailand and have urged cardholders to take more care in protecting their personal identification numbers (PINs).
Fraudulent practices are migrating into Thailand. One reason is the adoption of microchip "smart card" technology in neighbours like Malaysia and Singapore, leaving old technology here an easy target.A banking source said fraud cases involving his bank rose from five cases in 2005 to 10 last year. "Most of the victims are foreign retirees, who live in Pattaya," he said. "The criminals are usually foreigners. They pretend to have a problem with their ATM card and ask for help. While the victim is unaware, they scan the magnetic strip on his ATM card with a small concealed device. Your PIN is your most important piece of private property. It's easy for them to sneak a look as you enter it." The source said it would take time for local banks to apply smart-card technology to cards, due to the cost. In any case, criminals will find a way to break through the security. Matthew Heap, marketing director for NCR Asia Pacific, said ATM fraud here was still at the physical-contact and counterfeit-note level. "We can provide software and hardware for maximum security, but fraudulent practices develop and migrate. We also educate our customers [banks] about the movement of fraud around the world and suggest that they alert their ATM cardholders," he said. Pol Thanachote, president of the ATM Pool Club, said the club had set up a team to follow up on the movement of fraud and cooperate with police. Piyarat Setthasiriphaiboon The Nation
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