Card skimming is a form of credit card fraud. It involves the illegal copying of data from the magnetic strip of a credit or debit card.
This stolen data is used to make unauthorised transactions or create counterfeit cards.
Card skimming can occur in various locations, such as ATMs, gas pumps, point-of-sale (POS) terminals, and, in some cases, by dishonest employees at businesses where
you use your card.
Card skimming is a growing threat to your financial security. Criminals use hidden devices to steal your card information and empty your bank account.
Customer protection strategies are at the forefront of banks’ efforts to curb ATM and related crimes, but to be effective they also require customers to do all they can to protect themselves.
PRECAUTIONARY MEASURES TO AVOID CARD SKIMMING:
Inspect Card Readers:
60% of skimming occurs at privately owned ATMs.
These are typically cash-dispensing machines and tend to be located in convenience stores, bars, restaurants, grocery stores, or check-cashing establishments.
Before using ATMs or card terminals, check for any unusual or loose parts.
If the numbers are hard to press or feel thick, it might have a false keypad installed and you should move on to the next machine.
If the machine seems bulky in any way, rather ask for another option to pay.
Before using any machine, take a look to make sure it has not been tampered with.
If the card reader seems loose, crooked, or damaged, if the graphics are not aligned, or if part of the machine is a different colour, do not insert or swipe your card.
If there is another machine nearby (such as two ATM machines next to each other), compare them to see if there are obvious differences.
For example, if one machine has a flashing slot to insert your card and the other does not, that may be an indication that there is something wrong.
Always cover your PIN, even if no one is around.
Hidden cameras are sometimes used.
Use Chip Cards:
These provide extra security compared to magnetic strip cards.
Check your bank card statements regularly for unauthorised charges.
Rather than wait for your monthly statement, check your account regularly using online and mobile banking.
Use mobile wallet.
An alternative to swiping your card is paying by mobile wallet, including Apple Pay, Samsung Pay, or Google Pay.
This form of payment is secure because your credit card information is tokenised and rendered useless if a thief were to get a hold of it.
Pay inside:
If your local gas station has not yet updated their pumps to accept mobile wallet or you are not sure if the machine is safe to use, go inside the service station to pay.
Taking an extra minute to walk inside could save your money from your account being compromised.
Stay in public view.
Always try to use machines that are in public view with security monitoring – these machines are less likely to be tampered with.
For additional protection, use a bank-specific machine inside the store or an ATM inside your bank.
Sign up for bank alerts.
See what type of fraud alert system your card provider has in place and take advantage of it.
While fraud is not 100% preventable, catching issues immediately will save you the time and effort of trying to cancel or reverse any unauthorised use of funds in your account.
Remember, your financial safety is in your hands. Rather stay pro-active and avoid any possible opportunities for criminals to access your bank account and your money.
Stay vigilant and protect yourself from card skimming scams!
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