ATM and POS financial fraud warnings

Financial security experts and authorities have issued warnings regarding various methods of fraud targeting automated teller machines (ATMs) and point-of-sale (POS) terminals.

In Syria, specific concerns were raised regarding skimming devices, fake keypad panels, hidden cameras, and card-trapping mechanisms. In Turkey, specialists highlighted risks associated with POS terminal errors, such as incorrect amount verification and unmonitored contactless payments.

Recent developments in Turkey have identified new fraudulent methods involving both digital systems and physical tampering. In the digital sphere, scammers are exploiting the ‘Request Payment’ feature within the FAST infrastructure. Fraudsters often target individuals selling second-hand goods by claiming a transfer is stuck in security checks, creating urgency to trick victims into approving a payment request that actually transfers funds from the victim to the scammer.

Physical ATM threats have also evolved with the use of ‘money traps,’ where devices are installed in the banknote dispensing slot to prevent cash from being released. Criminals wait for users to leave, assuming the machine has simply malfunctioned, to retrieve the trapped cash. Traditional risks, including card skimming and hidden cameras used to steal PINs, remain active threats.

In Turkey, banking operations are also seeing shifts in cash management. Banks are increasingly prioritizing high-denomination banknotes, such as 100 and 200 TL, in ATM cassettes to maximize capacity and reduce logistics costs. This may prevent customers from withdrawing specific amounts that are not multiples of these available notes. Additionally, experts note that in cases of accidental transfers to the wrong IBAN, banks can initiate a return request through the receiving institution, though they cannot unilaterally withdraw funds once a transfer is complete.