Monday, February 7, 2011

Skimming – A New Credit Card Scam Targets ATM’s

A new credit card scam called skimming is targeting people using ATM’s and it has become a big problem in Europe and South America. There are certain ways a criminal might follows to steal your credit card information.

A thief will put a device over the card slot without altering the machine’s appearance. So when you put in your card, the data from the card’s magnetic strip will be stolen.

Sometimes a small camera will be hidden on or near the machine to read your pin number. The thief might also place a fake keypad on top of the new one to record your pin as you enter it.

How to avoid?
  • Keep an eye out for loose card slots or glue residue on the machine.
  • Shield the keypad when entering your pin.
  • It is always suggested to check your accounts every day.
  • Running your debit card as credit card might also offer you some protection.
  • Use ATM’s at bank locations since rigging is more likely to happen in isolated locations. 
Inform your bank immediately if you have fallen victim to skimming. Also file a complaint with police both in your home town and the location where the transaction happened.

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