Bank Card PIN Protection: A Logical Reason for Its Existence
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In the ever-evolving landscape of financial security, one simple yet effective measure has emerged as a potential solution to curb bank fraud: the use of PIN protection stickers on bank cards. This innovative approach, recommended by the Federal Financial Supervisory Authority (BaFin) in Germany, is gaining traction as a preventive measure against unauthorised access to accounts.
The concept is straightforward: a simple sticker with a fake PIN on a bank card can deter potential thieves from attempting to use the card with the incorrect PIN, thus preventing unauthorised transactions. This trick, which doesn't require much time or money, could be a useful tool for individuals who want to stay one step ahead of scammers.
Last year, the number of payment card fraud cases without PIN was around 15,200, causing damages of approximately 6.8 million euros. In contrast, the number of cases with PIN was significantly higher at around 23,900, resulting in over 38.2 million euros in damages.
While the use of a fake PIN sticker provides a sense of security, it is essential to remember that it is only one part of a comprehensive approach to financial security. The police recommend several additional precautionary measures, such as shielding your PIN entry from others, never writing down your PIN, and always reporting a stolen card immediately by blocking it via the central number 116 116 and filing a police report.
Moreover, never share your PIN with anyone, including banks, credit card companies, or public officials. A unique PIN combination makes it harder for scammers to guess your PIN, adding an extra layer of protection. If an ATM appears altered or suspicious, call the police.
It's also crucial to remember that if you are a victim of card misuse and have not acted grossly negligently, you are liable for a maximum of 50 euros for any damages incurred.
In conclusion, the trick of using a fake PIN sticker on a bank card is a practical and cost-effective solution that can provide peace of mind in emergency situations where a wallet, including the bank card, is missing. However, it should be used in conjunction with other precautionary measures to ensure maximum protection against bank fraud.
This article was written by Nadja Orth. Stay vigilant and stay secure!
