This is a wake up call to ATM service providers in Nigeria and Africa in general.

Cybercriminals and Offline gangs are now using skimming devices to steal ATM card details of individuals and using it to milk such victims dry without such individuals knowing.

See the video man gets busted by police installing ‘skimming’ device to ATM
Many folks out there may not be aware that it is possible for their funds to be stolen electronically by stealing it from you at the ATM.
This process is called “skimming,” and it involves installing a card reader and a camera on the ATM. The card reader gets the information on the magnetic stripe on the back of your card, and the camera watches what you enter for a PIN and transmits the information wirelessly to the thieves.

So when next you are using an ATM machine, it will be a good idea to keep an eye out for these devices.
You may ask how do I know what to look for?
To answer that I will present you with a plethora of resources.
First see a guide on spotting a skimmer. It’s a brief PDF from Consumerist.

See how to id an ATM Skimmer in consumerist here photos of skimming devices are also included.

Here’s a link to download a pdf on what a skimmer looks like

Below is a suggestion on how to put a stop to it by a reader on consumerist

OCP recommends deploying an ED-209 to monitor every large ATM gallery.


[Enterprising scammer tries to install skimmer] ED-209: Halt!
Scammer: Oh shit! Okay I give up, just don’t shoot!
ED-209: You are in direct violation of Penal Code 1.13, Section 9, Put down the skimmers and put your hands ups. You have 20 seconds to comply.
[Scammer sets skimmers down on the floor and puts hands up] ED-209: You have 15 seconds to comply.
Scammer: What? Wha?
ED-209: You have 5 seconds to comply.
Scammer: Wait I put the skimmers down and my hands are up!
ED-209: Four… three… two… one… I am now authorized to use physical force!

Lifehacker also has some good suggestions.

Go here to read about almost every kind of ATM fraud scheme and technique being used worldwide

Having seen all these it is important to realise that while it may seem a little far-fetched to you if you have not experienced it, it is however very real. The reason is because these skimming devices are sold openly on the internet. It is no longer a secret that virtually anyone could make a purhase online using a variety of payment options, so the next ATM terminal to be compromised may be yours.

What are the banks in your country doing to tackle this menace?

Please tell us in our comments box, this will help to educate others and act as a wakeup call to other complacent countries and financial institutions.