ATM cash trapping: What you need to know to stay safe
Using an ATM can sometimes be an unfortunate experience due to a phenomenon known as cash trapping. Fraudsters use This simple yet effective technique to steal money from ATM customers. To execute this, fraudsters modify the device slightly, causing the user to lose the withdrawn cash.
Cash trapping is an extremely effective and straightforward method of theft, aimed at individuals withdrawing money from an ATM. The essence of the fraud is to alter the device so that the withdrawn amount is not dispensed to the customer.
What is cash trapping?
While the withdrawal process appears normal, it concludes differently than with a standard, secure ATM. The key difference is that the banknotes are invisible and do not reach the user. This is achieved by installing an additional component where the banknotes should be dispensed.
With this special cover in place, retrieving cash from the ATM becomes impossible. Fraudsters often attach double-sided tape to the installed component. The banknotes adhere to the tape, preventing the machine from retracting the money if it is not collected, as would typically occur.
How to protect yourself from cash trapping?
Protecting yourself from cash trapping can be challenging because it is difficult to determine whether an ATM has been tampered with. Fraudsters use covers that are not noticeable at first glance. To ensure an ATM's safety, one can gently pull on the part that dispenses banknotes. If the device has been modified, this part may shift.
If you cannot withdraw cash despite the ATM confirming the transaction, there is a high probability that you've fallen victim to fraud. In such a situation, do not leave the ATM.
You should contact the ATM operator immediately. The contact number should be on the device or available online. Alternatively, you can call the bank's hotline and follow the consultant's instructions.
