Partner Dyan Finguerra-DuCharme recently appeared on CNBC's "Nightly Business Report" in a segment examining the rise of "ATM skimming" scams and the rights of consumers whose accounts are compromised.
Speaking with reporter Andrea Day, Finguerra-DuCharme explained that if an ATM user falls prey to a skim, the responsibility "absolutely" rests with them to report the breach. She told Day, "When you notice an unauthorized transaction, if you report it within two days of that unauthorized activity, the bank will reimburse you for anything over $50. But if you wait for your statement to come, the law gives you 60 days in which to report. [However], because you`ve delayed and waited, you are responsible for the first $500 of the withdrawal."
In light of the increased incidence of these scams, ATM operators are now on alert and are actively working on ways to prevent skimming from taking place.
To view the full transcript of Finguerra-DuCharme's interview, please click here.
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