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June 13th, 2014

PROTECTING YOUR INVESTMENT – PERSONAL SECURITY TIPS: SKIMMING

 

In today’s environment, we are faced with people who have become more sophisticated in their techniques to scam citizens of their money. You do not want to be a victim of fraud as it is a severe inconvenience to you and your family. Your best defense, however, is securing your card and personal funds against such attacks. With this in mind, we have listed below some ways in which people may try to scam you and offer   personal security tips to help protect your investment.

SKIMMING

SKIMMING: The act of using a small device known as a skimmer to illegally collect data from the magnetic stripe of a credit or debit card. This information is written onto another blank card’s magnetic stripe and is then used to make purchases or withdraw cash from the account of an unsuspecting cardholder.

Incidents of card skimming (card cloning) have been increasing in numbers and in an effort to assist you in protecting yourself from the growing trend, the following is recommended:

  • Do NOT let your card out of your sight i.e. do not allow a merchant  to  take your card out of your sight
  • Do NOT use your card by merchants where the POS machine is not visible i.e. hidden below the counter or behind a dark glass
  • Check your statements regularly or  review all your transaction activity via UTC-UOnline or UTC ATM mini statements
  • If you misplace your card for ANY period of time it is recommended that you immediately have your card blocked and replace it at your earliest convenience. Be sure to verify your last transaction activity
  • Immediately notify UTC via one of the following options  to report any suspicious activity on your account :
    • 625-8648 Available daily 7.00 a.m. to 10.00 p.m. inclusive of public holidays
    • After 10:00 p.m., a voice message can be left
    • Send email to CardandOnlineServiceRepresentatives@ttutc.com advising that there are transactions you do not recognize.  Be sure to include a contact number as well.
    • Visit the nearest UTC Investment Centre to have your card blocked and complete an Affidavit of Claim Form for suspicious transactions.