If you bank with one of the large private or foreign banks, chances are that you have been getting messages and emails asking you to change your ATM PIN. The messages have been persistent and frequent.
They read something like this:
We would like to keep you informed about the increased instances of ATM frauds across banks in India recently. We recommend that you exercise caution in this regard. For the security of your account, we would recommend that you visit our ATMs or call our helpline and change your debit card PIN...Bank Alert
If you ignore the message, you’ll get an email and in some cases even a call. Some banks are even advising you to use ATMs only of the bank you have an account with as a safety precaution.
While most banks typically send cautionary messages to ensure safety of customer accounts, the frequency of communication, at least in some areas, has increased in recent weeks.
Are you wondering why?
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