Many of us must have heard about card-skimming frauds. ‘Card skimming’ refers to the illegal copying of information from the magnetic stripe of a credit or ATM card. The scammers try to steal your card details so they can access your accounts. Once scammers have skimmed your card, they can create a fake or ‘cloned’ card with your details on it. The scammer is then able to run up charges on your account. Card skimming is also a way for scammers to steal your identity or your personal details and use it to commit identity fraud. By stealing your personal details and account numbers the scammer may be able to borrow money or take out loans in your name.

Red alert:-  

1. A shop assistant takes your card out of your sight in order to process your transaction.
2. You are asked to swipe your card through more than one machine.
3. You see a shop assistant swipe the card through a different machine to the one you used.
4. You notice something suspicious about the card slot on an ATM (e.g. an attached device).
5. You notice unusual or unauthorized transactions on your account or credit card statement.

    

How to protect yourself from card skimming:-

Keep your credit, debit, and ATM cards in a safe place. Do not share your personal identity number (PIN) with anyone. Do not keep any written copy of your PIN with the card.

1. Check your bank account and credit card statements when you get them. If you see a transaction you cannot explain, report it to your credit union or bank.

2. Choose passwords that would be difficult for anyone else to guess.

3. As well as following these specific tips, find out how to protect yourself from all sorts of other scams.

Skimming allows identity thieves to capture information from a cardholder that can be used to make fraudulent transactions. Some fraudsters may simply photocopy or take digital photos of information that can be used fraudulently. Other more advanced technologies also exist, such as skimming devices designed for use in many different situations.

 At brick-and-mortar locations, a fraudster can use a small skimming device that allows them to swipe a card and obtain information from its magnetic strip. Some skimmers may also include a touchpad that allows the thief to enter a security code. Thieves can also build skimming devices that can be used at automated teller machines (ATMs) and other point-of-sale locations such as gas stations. Skimming devices can be installed on an ATM with cameras and overlay touchpads can be added to capture individual personal identification numbers. Gas stations are another target where skimming devices can be easily installed since card readers are often outside at the gas pump and separate from a checkout. Credit card skimming is a type of theft where the thief makes use of a device, known as a skimmer and steals the information of a credit card. When your credit card is swiped through the device, the skimmer will steal and store every detail that is on the magnetic stripe of the card. This stripe stores information like the expiry date of your card, your full name, and the credit card number.   Card skimming’ refers to illegal copying of information from the magnetic strip of a credit or ATM card. The scammers try to steal your card details so they can access your accounts. Card skimming is also a way for scammers to steal your identity or your personal details and use it to commit identity fraud.