Credit Card Solution

You have probably heard about credit card skimming fraud on the news or read about it somewhere. Card skimming fraud is where a person goes to an ATM machine and later finds out their bank account has been cleaned out. The question most have in this situation is how it happened? It is all due to hi-tech crimes in which skimming information occurs. It is a universal problem that is hard to detect. Police and banks work to prevent such issues, yet in 2003 cash machine fraud totalled 61 million pounds.

So how does it work?

The scam is fairly simple though some techniques are complex. The fraudsters will attach a false front to the card reader of the ATM. You will put in your card and enter your private number. In a car or other location nearby the thieves sit waiting. They have a wireless device that receives the information you just entered. They also leave another object at the machine such as a leaflet holder or something that can have a camera with easy view of what you are doing with regards to your PIN. When you type in your number this image is sent to the thieves along with your card information. The thieves will then use your information to withdraw as much money as possible in a short time to leave your account empty. The cash is used to buy goods.

There are other variations of this scheme in which the keypad is covered in order to capture the PIN. This low tech crime has the criminal standing somewhere near you to look over your shoulder in order to memorise the PIN. A false card reader can be attached in order to “swallow” your card leaving you to think the machine malfunctioned. In another scheme a real machine was labelled disabled and customers were directed to a fake machine a few minutes down the street.

In other schemes not involving ATMs, card readers are used. A restaurant or shop can have a fake machine regarding your information when you go to pay for merchandise or food. Your card is returned, but your details are recorded. In America, with independent ATMs machine owners have defrauded account holders. These actions are very worrisome for most.

How to Prevent Being a Victim

It is hard to detect when these schemes are going on because the fake parts are often manufactured to be undetectable. However, there are plenty of steps to ensure you are safe. Here are some tips:

• If at all possible use the same ATM machine. Be cautious of any changes to that ATM. If it is outside a bank ask the bank about the changes first before using your card.
• Use a machine inside the bank that is better monitored.
• Watch out for anyone that is close to you. If they are too close just cancel the transaction before you even begin.
• Cover your hand that is typing in the PIN to make it impossible to see clearly.
• Take your receipt or do not print one. Most ATMs give you a choice in printing a receipt, not printing it, or having it sent to your email.
• Check your bank account regularly and set up alerts with the account to text any unnatural transactions.

If you become a victim:

Tell your bank immediately if you suspect you have been a target of fraud, especially if money turns up missing. In most cases you can change the account numbers and limit how liable you are for the missing funds.

Check your credit history to make sure your stolen card details are not causing any other identity theft issues.

Check the card reader you use before inserting the card. If you see something out of the ordinary or even feel tiny prongs you’ll be able to prevent fraud.

Chip and pin cards have cut down on certain types of fraud, but it can still happen as more thieves develop technology to beat chip and pin systems. The daily withdrawal limit has also helped stop huge amounts of fraud such as empty bank accounts because it is easier for you to find out money has been stolen over a period of days rather than just one. Basically, it is easier to detect if you check your account each day. Most ATMs do not have problems; however, it pays to remain alert, careful, and hyper sensitive to what could occur in order to avoid any problems.

Similar Posts:

• Wells Fargo to Pay Your Foreign ATM Fees
• What is credit card skimming?
• Treated Like a Criminal at Checkout? Don’t Put Up With It
• Credit Card Rewards, Plus: Card Fraud
• The Dangers Of Credit Card Thieves Online