What is Skimming

                                                                                         

In speaking of drawbacks of credit cards another form is the fraud of making copies of stored information upon the credit card, also known as “Skimming”. This has become extremely popular for those who are making the business of stealing other peoples financial information and making use of it. Each time you let your credit card leave your hands, you run the risk of credit card skimming.

In general, skimming occurs in a public place such as a restaurant, shop, or retail store. Anyone who is dishonest and in the fraud business such as a cashier or waiter could swipe the credit card for payment of their services and then unbeknownst to you swipe it a second time in a device known as a “skimmer”. A skimmer is a small device that is similar to the size of a pager that has a slot; this is purchased very easily on the internet. What it does is it will record information stored upon a credit card (magnetic strip) and it will do so extremely fast. Then the information that it records is passed to thieves who will then put the information upon a credit card that is counterfeit.

This essentially means that your money is now in the hands of the thieves. There is only one way to prevent this action and that is to make sure you always keep a sharp eye upon the credit cards. Skimming has also known to take place at various unwatched ATMS such as those within a mall. Your credit card could become stuck within the ATM or done in such a way that you believe that the ATM has kept your card for some reason, but in actuality, the thief has inserted something within the ATM in efforts to steal your card along with a camera that has recorded your pin number.

It is important that you become extremely aware of your surroundings and keep close eyes upon your surroundings. Make sure, if the ATM ever keeps your card that, you immediately report the instance to the bank or Credit Card Company. Additionally, you should ensure that each credit card statement you receive, you carefully examine it for anything that should not be on there. Make sure you keep all limits of credit low upon credit cards to help minimize losses if you do fall prey to skimming. With the risks of being financially crippled, you should be keenly aware of any and all activity in regards to your credit cards.

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