Ecuador, ATM cloning continues as security challenge

ATM cloning continues to be a challenge for Ecuadorian banks. Banco Pichincha has been working with a new biometrics keypad that actually registers and stores the rhythm and force of the authorized users hand when entering the password for the debit or credit card at an ATM.

The three largest banks impacted by cloning are: Pichincha, Guayaquil, and Produbanco.

Think you will get all your money back from the banks if you are a victim of cloning? THINK AGAIN. The Association of Private Banks of Ecuador (ABPE) have not reached an agreement with prosecutors on the return or amount of money to victims of alleged fraud through cloning or skimming. At the current time the decision is up to the bank and is on a case by case basis and determined after an investigation. The president of ABPE stated in an article in lahora.com.ec that in no case would a victim get 100 percent back. Read Article
A few defensive measures against cloning:
Always cover the pad with one view to obscure view of pin number being entered.
If an ATM machine appears inoperable don’e insert your card.
If you are having trouble with an ATM machine don’t ask for help from anyone trying to use it.