Have You Been A Victim Of Skimming?

I'm the last person in the world to know anything about skimming, a method used by thieves to steal your bank information and identity, as I've never even had a debit card or an ATM card. Seriously! My kids have always wondered how I've survived without one. The answer is CASH. You don't spend what you don't have. I realize that most of the world loves their ATM card, but the practice of skimming, a worldwide problem, may make you think twice, or at least pay closer attention the next time you withdraw money from an ATM or put a pin number in at a gas station.

Skimming is the theft of credit card information used in an otherwise legitimate transaction. The thief can procure a victim's credit card number using basic methods such as photocopying receipts or more advanced methods such as using a small electronic device (skimmer) to swipe and store hundreds of victims’ credit card numbers. Common scenarios for skimming are restaurants or bars where the skimmer has possession of the victim's credit card out of their immediate view.[9] The thief may also use a small keypad to unobtrusively transcribe the 3 or 4 digit Card Security Code, which is not present on the magnetic strip. Call centers are another area where skimming can easily occur.[10] Skimming can also occur at merchants such as gas stations when a third-party card-reading device is installed either out­side or inside a fuel dispenser or other card-swiping terminal. This device allows a thief to capture a customer’s cred­it and debit card information, including their PIN, with each card swipe.

Instances of skimming have been reported where the perpetrator has put over the card slot of an ATM (automated teller machine) a device that reads the magnetic strip as the user unknowingly passes their card through it. These devices are often used in conjunction with a miniature camera (inconspicuously attached to the ATM) to read the user's PIN at the same time. This method is being used very frequently in many parts of the world, including South America, Argentina,[ and Europe. Another technique used is a keypad overlay that matches up with the buttons of the legitimate keypad below it and presses them when operated, but records or wirelessly transmits the keylog of the PIN entered. The device or group of devices illicitly installed on an ATM are also colloquially known as a "skimmer". Recently-made ATMs now often run a picture of what the slot and keypad are supposed to look like as a background, so that consumers can identify foreign devices attached.Take a close look at the machine you are inserting your ATM card into. I wouldn't know what to look for, but apparently there are irregularities that a frequent user of ATM machines might spot. This practice by thieves is costing us billions of dollars a year, which we are all paying for, one way or another. Or, if you're like me, visit the bank regularly, and pay for your purchases in cash. It's a great way to keep within your budget. When you're out of money, you just stop spending.