In a world where houses, electronic devices, bank and social media accounts, vehicles, lockers etc., are controlled by passwords, identity theft looms large in case of bank accounts too. Through skimming and other cyber frauds, scamsters are able to steal money as well as compromise with customer’s passwords and identity. Once a person’s identity is compromised, the same might be used elsewhere anonymously to run transactions. This puts bank customers into quandary. Such a cyber crime is hard to trace out and developing countries lack enough infrastructures to do so. The sample size for the study was 400 floating population of Bengaluru. The analysis was done using simple random sampling and a three point Likert scale. A pilot study was conducted with 10 respondents before finalizing the questionnaire. Cronbach’s Alpha was used to test the reliability of the data. Pearson’s Chi Square Test of Association was used to find the association between demographic and inferential variables. Pearson’s Chi Square Test of Independence was used to measure the impact that independent variables had on dependent variables. This paper is a study towards the Collectivism behavior that exists in Indian society, which could possibly lead to damage and misuse of bank customer’s identity through the usage of Automated Teller Machines (ATM). Serials Publications Pvt. Ltd.