HSBC rolls out ATM update to make it harder for fraudsters to steal your cash

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HSBC rolls out ATM update to make it harder for fraudsters to steal your cash



ATM users should be better protected from scammers when using HSBC dispensers as the bank has rolled out new technology to make it harder for scammers to steal cash.
The new technology, which the bank claims is the first of its kind, is supposed to reduce the chances of consumers falling victim to “cash trapping” scams.
1 New technology from HSBC should help protect you from card fraudCredit: Getty – Contributor
This when fraudsters insert devices into a cashpoint that prevents it from giving you your cash when you try and take money out.
It’s not easy to spot – criminals will tamper with an ATM, preventing money from being dispensed to customers and making it appear as if the machine had simply gone out of service.
The cash is then diverted and later the fraudsters come along later and steal it.
HSBC says it has noticed that this kind of scam is on the rise in central London in particular, which is where it has been trialling the new tech before its nationwide roll out.
And evidence suggests this is a growing problem generally.
How to stay safe from card fraudHSBC UK’s top five cashpoint fraud prevention tips are as follows:

Never divulge your PIN to anyone, not even the bank or police, and always shield your hand when entering your PIN into a cash point or ATM keypad.
Always look closely at the card insertion point of a cash machine before using it. If it looks like it may have been tampered with, do not use it and call your bank – if it is safe to do so.
If you realise the cash machine has been tampered with after you have inserted your card, contact your bank while still standing at the cash machine – if it is safe to do so.
If an ATM fails to dispense your cash, unexpectedly retains your card or appears to become “out of order”, contact your bank while still standing at the cash machine – if it is safe to do so.
Program your bank’s phone number into your mobile phone (usually found on the back of your card) so you’ll have it handy should you ever need it.

According to an April 2019 European Association for Secure Transactions (EAST) report, ATM attacks rose by 27 per cent in 2018 with losses totalling €36million (£32million).
But HSBC’s new software should detect if an ATM has been tampered with, allowing the bank to reverse any transactions and to investigate further.
The bank says the trial has reduced instances of ATM fraud by 50 per cent month on month.
Now HSBC is rolling the software out at 1,000 of its ATMS throughout Great Britain.
Richard Harrison, head of branch network at HSBC UK said: “We’ve now deployed the new technology to cash machines across the country, helping deter fraudsters and in turn improving safety and service for the public who rely on our ATM network.”
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