How To Get Protection Against Skimming?

By Author: Best Debt Care
Total Articles: 207
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Given the rate in which technology has progressed during the last few years, there is every chance that you will end up being a victim of credit card identity theft rather than a burglary. These thieves in disguise will steal all the information associated with your credit card, bank account number or other financial information. The economic struggle which has kept the citizens on their toes and engaged with the debt settlement companies to resolve their debts, skimming will just seem like the last nail in the coffin. Skimming actually refers to a criminal act by which, the assailant can take out the information from the magnetic strip of the credit or the debit card of an individual. The information is secured with the help of a small electronic device which is easy to induce and helps to take the information from the magnetic strip. In many cases the physical presence of the assailant may not be remain in the place of crime but get all the information successfully. There are two ways in which these thieves may operate and one of the ways may not require them to be present in the site of the crime. The electronic device may ...
... be simply attached with a credit card scanner to secure the information. The places where you can normally get to witness this crime is in the gas pumping stations and the ATM’s. As soon as you insert your debit or credit card through the slot machine, you will also end up inserting it in the skimmer machine and the information is transferred elsewhere. Another way in which this crime can take place is during the presence of the assailant who may pose as a waiter or the person who is working at the cash counter of a grocery store. As soon as you will provide them with the debit or credit card at the time of payment, the card is swiped through the skimmer machine and your secret information is transferred to a different destination.

Sometimes, the thieves may also insert hidden cameras in ATM’s to steal the information. As your card is swiped through the skimming machine, the coded information is transferred to another location. This makes it easier for the thieves to get the information and create an identical copy of the same. Thereafter, the funds can be easily transferred from the account of the original holder of the credit or debit card. By doing this, the assailants can successfully acquire a large sum of money and personal information of an individual. However, some of these criminals will not steal a large amount at one time in order to avoid being caught on the wrong foot. Some others may however steal huge amounts within a very short time. Skimming can be avoided only if the consumer is aware of the ways in which the crime is committed and not take risks with any suspicion that arises. It is necessary to check for any pilferage or tampered card reader or if the person sitting in the cash is swiping the card twice.

However, if you are already victimized by such an incident, you should immediately report the activities to the concerned authorities such as the bank. There are several protection schemes which are available with the credit card issuing companies to provide support to the consumers and the victims.