With summer in full swing and kids out of school, traveling begins and the memories follow. However, travelling can make you more susceptible to fraudulent threats, like skimming.

 
What is skimming?

 

Skimming occurs when financial and account information is taken and stored on a device installed illegally on another machine, including ATMs or Point of Sale (POS) terminals. It also can occur digitally when a hacker inserts a fraudulent code into a website, so they are able to retrieve card information at checkout. By gaining financial information, criminals can access funds and account information to make unauthorized purchases without your verification.
 
So why is it a common occurrence? The biggest reason is because it requires little risk for a potentially high reward. As most skimming devices are rather small and easy to connect, it doesn’t require much skill or work, and account information can easily be downloaded for online and in person purchases. Even creating a code to build into a website is not difficult as technology and AI-assisting platforms continue to advance.
 
Some of the most common skimming scams to look out for include:

 

  1. Fuel Pump Skimming: When paying for gas at the pump, devices are attached to the internal wiring of a payment machine, so financial data can be stored and downloaded or wirelessly transferred later.
  2. ATM Skimming: When you insert your debit card into an ATM, skimmers can record information to use for later. They also can collect keystrokes or PINs.
  3. POS Skimming: While POS devices are similar to ATM devices, they are different as they look more like an overlay that transmits data wirelessly instead of being wired into the machine.
What To Look Out For:

So how do you protect yourself against skimming fraud? There are several ways that you can be proactive when you purchase online and in-store.

 

  1. Inspect the ATM or POS terminal before purchasing: Avoid card readers and terminal keypads that are cracked, damaged, or loose. Anything that looks unusual can be a strong indicator of a skimming device.
  2. Cover when you can: If you are putting in a pin or sensitive information, cover the keypad or touchscreen as you type to prevent recordings from small cameras.
  3. Use cards with chip technology: Cards that use tap to pay are less likely to bcompromised compared to inserting your card into a terminal. Use debit cards and credit cards with chip technology whenever possible.
  4. Use a strong PIN: Create a PIN that is unique and not easy to guess, avoiding consecutive or the same numbers

For more information, review the Client Protection resources at the bottom of our website home page.

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