Credit Card Skimmers
In the past, credit card fraud and identity theft happened when thieves stole wallets, rifled through bins to find information, or even when unscrupulous waiters wrote down card numbers while processing restaurant payments. But as technology has advanced, a new menace has raised its head. What is it, and – more importantly – how can you avoid it?
Skimmers are a potential problem for anyone who owns a credit card. These devices mimic legitimate credit card swipers on chip and pin terminals. When a card is swiped through the reader, the card number, account holder name and address and sometimes the PIN are stored so the thief can access it later. This information is used to make cloned credit card for fraudulent purchases.
Amazingly, credit card skimmers can be bought easily online. Aspiring thieves only have to shell out a couple of hundred pounds and team up with counterfeit credit card makers, and they are well on their way to fleecing innocent card holders.
Credit card skimming costs companies millions of pound each year, so it is a massive problem. The best way to avoid falling prey to credit card skimmers is to make sure that you see all transactions happen in front of your eyes. Don’t let waiters or bar staff take your card out of your sight, and check for anything out of the ordinary when you use an ATM or ticket machine.
Make sure that you check your credit card statement carefully to see if any fraudulent payments have been made. If you notice anything out of the ordinary, report it to your credit card provider immediately.