Barclays records progress in fight against ATM fraud |11 September 2013

Barclays Bank is recording success in its fight against ATM card skimming fraud after a number of Seychellois ATM users were victim of the illicit activity.

Barclays Bank managing director Rakesh Jha said this yesterday afternoon, following the arrest on August 23, 2013 in South Africa of seven individuals from eastern Europe and South Africa who were operating in Africa.

During the arrest operation, 150 counterfeit cards which had been used in eastern and southern Africa regions including Seychelles were recovered.

Mr Jha has said that the success is the result of fraud monitoring investigations jointly carried out by Africa Forensics, other regional banks and international investigators. He added that more efficient fraud control procedures are now in place, along with increased security devices and surveillance. These include the installation of a vibrator to ATM cards which prevent the capture of details when in use. According to the Barclays boss, information sharing and exchange of security tips among banks across Africa are also crucial in the fight against ATM fraud.

“Protecting our customers from financial crime is very important to Barclays. We communicate and work with law enforcement agencies and other financial institutions on an ongoing basis to protect our customers from such crimes. Our fraud monitoring system continuously verifies card transactions to protect our customers whenever they use their Barclays debit card, whether in Seychelles, online or abroad. This means that our customers can have peace of mind that their card is protected from unauthorised use. As a bank, we remain committed to protecting our customers and providing them with the comfort that we have their best interest at heart,” said Mr Jha.

Skimming most commonly occurs at retail outlets particularly bars, restaurants, petrol stations and cash machines which are illegally fitted with a skimming device, and involves the electronic copying to another card of the number on the original card’s magnetic strip. The stolen data is then used to create counterfeit cards. Most people are unaware that they have fallen victim to this kind of fraud until they receive their bank statements.

In order to protect themselves, Barclays is once again calling upon its clients to be cautious when using their debit card, especially when travelling overseas. They must for example refrain from using ATMs in isolated areas and ensure that all payment transactions are processed in their presence. Clients should also check ATM machines for signs of tampering such as skimming device, fitted camera and unknown residue before using them and should be satisfied that no one is in their close vicinity when transacting at ATMs. They should also inform their bank of any suspicious activity.

Barclays Bank believes that with the arrest of the seven fraudsters, the bank has dealt a serious blow to the organised crime group behind many of the skimming activities affecting its business not only in Seychelles but in other parts of Africa. The company has also announced that the 20 or so local victims have been refunded by the bank.

Commenting on recent robbery cases which have hit Barclays, Mr Jha has said that the bank considers them as isolated incidents which can happen anywhere and with any bank.
He has also ensured customers that they do not have to be worried as with Barclays, their money is in a secured place and in safe hands.