Radyo Natin

Cebu banks to refund some PhP3M lost to ATM skimmers

CEBU CITY — The Cebu Bankers Club (CBC) on Monday assured all depositors who are verified victims of Automated Teller Machine (ATM) skimming that they will refund the money stolen from them, an official said.
Cebu City Councilor David Tumulak, who met with officials of the Cebu City Police Office (CCPO), CBC and at least 10 victims on Monday, said some P3 million were stolen from 15 verified victims.
The CBC also urged depositors to change their cards to EuroPay, Mastercard and Visa (EMV), as a preventive measure because cards with magnetic stripes are vulnerable to skimming.
EMV, the global standards for cards, have master chips embedded in them.
The CBC representatives said personal information can easily be hacked through magnetic scanners, but the EMV made with advanced technology is safer for depositors.
Tumulak said he will sponsor an ordinance requiring all banks to install closed circuit television (CCTVs) cameras within their ATMs after CBC representatives said the ATMs of some banks do not have CCTVs.
Tumulak also wants the banks to conduct an hourly check of the ATMs for possible skimming device installation.
The CBC is also required to provide the CCPO with photos and videos of suspicious personalities caught on CCTV to help fast-track the apprehension on the suspects.
The club said it will also soon launch a text messaging update system, wherein a depositor will be asked for confirmation whenever a transaction of P5,000 and above is made through his account.
The CCPO has yet to verify whether the separate cases were skimming or breach of security system.
It urged the public to be vigilant as one depositor was reportedly victimized while withdrawing inside the bank. (PNA)

Last Modified: 2021-Jul-22 18.49.54 UTC+0800