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.”
Do you have more than $200k in your super fund? You could use your super to buy property - Find out how
Top Suburbs :
st kilda west
Get help with your investment property
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus an appointment is free.
We value your privacy and treat all your information seriously - you can check out