Banks may be under fire for the fees they charge customers, but they've confirmed they won't be penalising victims of the latest 'skimming' scam
The Australian Bankers’ Association (ABA) is assuring customers that they’re not liable for unauthorised transactions on their accounts if they are victims of skimming crimes, following reports that the illegal devises have been found in two of their ATMs.
Chief executive of ABA, Steve Munchenber, says skimming is the unauthorised copying of information stored on the magnetic strip of debit and credit cards – information which can be used by criminals to create a counterfeit card.
“When skimming is suspected, banks will conduct an investigation and funds are restored to customers – the innocent victims of this crime. In other words, the bank wears the loss. Banks are assisting police and we are working together to protect customers. We hope that that the police will make some early arrests and secure convictions for these crimes.”