Credit Card Skimmers & PIN Spy Cameras, San Diego (Combating Credit Card Fraud)
For most people, ATM is the easiest way to go to get cash, but it does sometimes have risks. In fact, according to latest report from makers of ATMs and other payment equipment, criminals have made as much as 3 billion dollars worldwide using skimming devices.
The use of skimmers at ATMs has become prevalent, and the report of fraud went up 5 times higher than the year before. Thus, it is imperative to take extra precautionary measures when using credit card or debit card for payment transactions.
Signs that your card might have been compromised
The first sign that a card might have been compromised is when it is rejected when making purchases such as at a gas station or grocery store. Another is, when a debt collector calls you for the debt you did not make. To verify, check your account if there’s money missing in it or if there is something unfamiliar transaction in your credit card statement (work with your bank or card provider on this)
How criminals perform their fraudulent activities (and how to avoid their mischievous ways)
ATM skimmers is keeping up with times, their fraudulent activities have expanded in a number of ways, which include the following:
A skimming device and tiny camera
Criminals use a skimming device at their target ATMs and, together with a tiny camera they copy credit card information and PIN, and then use the information to make a duplicate card. Covering the PIN pad as you type your PIN is one way to thwart this skim.
A fake card reader
A new type of skimming device they use that does not require a camera at all. This fake card reader fits snuggly over the real one at ATMs you often find in stores. This device can get your credit card information and PIN card just easily. It is usually put with double-sided tape, so if you see the pad is a little detached or loosed, don’t use it and report it to the concern company. The next time you visit an ATM, don’t forget to double check for any suspicious item.
Deep insert skimmers
There’s another type of device being used called “deep insert skimmers that can’t be detected from the outside, but steals your information just the same. This is more difficult to detect as this skimmer is planted way into the mouth of the ATM. Chip card with improved security features are safer to use to reduce the risk of being compromised.
EMV Smart Chip cards
What are EMV smart chip cards? These are a chip technology that features microprocessor chips that store and protect cardholder data. This is the most recent advancement to combat fraud and protect sensitive payment data. The data is more secure with chip-enabled payment than on a magnetic stripe card because the former support dynamic authentication, where an algorithm is used for verification that changes with each contactless transaction.
Indeed, using cards at ATMs comes with risks and thus, it is important to become a well-informed consumer, and that means to say, to be aware of credit card frauds and the way to protect yourself from them. So, constantly monitor your bank account online for suspicious activity and report any concerns (if there is any) immediately to your bank or credit union. Their fraud department usually is more than willing to work with you to help you get your money back.
If you need more information please contact NPC today at 866-495-9111.