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Nigeria: Interswitch, Banks Move Against ATM Fraudsters
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Daily Trust (Abuja)
23 June 2008
Posted to the web 23 June 2008
Zakariyya Adaramola
Lagos
Interswitch Nigeria Limited in collaboration with banks last week inaugurated an awareness campaign to protect ATM card holders against fraudsters and to educate them on the payment card in the country.
In the last few months there have been various messages requesting cardholders to register their debit, credit or cash card details under the guise of participating in non-existent promotions or with the promise of winning bogus prizes.
These phony messages are circulated through internet and telephone. In some cases the messages claim a network upgrade by the bank or Interswitch has affected the performance of cards, and then request the cardholders re-register their cards and personal identification numbers (PINs) on a re-directed website or phone number.
In similar instances, cardholders have fallen victim to nefarious activities having divulged their PINs voluntarily to friends and family, not understanding the importance of their PIN numbers.
Investigations into these isolated incidents reveal a lack of awareness about payment cards and the need to protect PIN at all times.
But inaugurating the cardholders' awareness campaign in Lagos, the Managing Director of Interswitch, Mr. Mitchell Elegbe, explained that the main objective of the campaign scheduled to run on radio, newspapers, magazines and billboards is to protect card holders from fraudsters, who temper with ATM cards' PINs in order to have access to cardholders banks' accounts.
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According to Mr. Elegbe, the joint campaign between Interswitch and participating banks, has been designed to also create awareness on card usage without generating unnecessary panic in the minds of cardholders and to also enlighten them of channels on which their cards can be used other than just cash withdrawals at ATMs.
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