Introduction to Skimming
Skimming is an identity fraud or theft used by the identity thieves to capture personal information, bank details and credit card information of the card holder. There are many ways in which the thieves can procure this information, but the latest and more advanced method is skimming.
Through skimming the fraudsters and thieves can procure your card information at different places where you use your card like the ATM, petrol pump, etc.
What is Skimming?
Skimming is a method of identity theft or fraud through which the fraudsters procure the data of your credit card by using a small device called a skimmer. This device can read the information stored in the card’s magnetic strip or microchip.
This device can be installed in the ATM machines or at the petrol pumps where you often use your credit card. When you swipe your card at these locations where the skimmer is installed, it allows the thief to swipe the card and obtain the information from the card’s magnetic strip. Some skimmers also allow the fraudsters to enter the pin using the touchpad.
This information is then used by the fraudster for illegal transactions. While the methods of stealing one’s personal information and using it for fraud have been used by the thieves since a long time, new methods like skimming which are more advanced and more technical are being used by many fraudsters in recent years.
These methods have made it hard for the authorities to track down the fraudsters. Some skimmers are as small as the credit card chip and can be easily installed in the ATM machines. These frauds are more likely to happen at the point-of-sale locations as we often use our cards at these locations and it is also relatively easy for the thieves to install skimmers at these locations.
How can you stay protected against skimming?
These skimmers are mostly installed in places like ATM machines where your card information can be easily scanned by these devices. You need to be extra cautious while using your card for electronic payments. Make sure to keep your card in your sight at all times and try to avoid handing your card to anyone else for the payment. If you suspect that you have been skimmed, you should lodge a complaint as soon as possible. Also you can check with the card company for any additional security that can be given to your card in order to avoid skimming and other frauds related to the card.
