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Credit card fraud is becoming more sophisticated, with scammers using devices called “skimmers” that steal and store your information after you swipe or insert your card.
Thankfully, you can visually identify skimmers if you know what to look for. Here are a few low-tech ways you can keep your card safe.
A skimmer is a small device that scammers attach to card readers on ATMs, gas pumps or any other device where you insert your card for payment or withdrawal. They look similar to the card reader itself and might increase the length of the reader by a small amount.
These stealthy devices are a highly effective way for scammers to easily steal your info if you don’t know how to spot them.
When you insert or swipe your credit or debit card, the skimming device captures the information found in your card’s magnetic strip. You’re able to complete your transaction like normal, but the crook who installed the skimmer can collect the skimmer later, download your information and make purchases or withdrawals without your knowledge.
A wealth of information is stored in that little black strip on the back of your card. It contains the name of your bank or issuer, your name and country, your account number and PIN and other details specific to your account, like your account limits and the types of charges your card accepts. In short, enough to make purchases with your data.
While there isn’t a great amount of data on the prevalence of skimmers, it’s thought that their use is on the rise. A single credit card skimmer can capture information on up to 100 credit cards in a day.
Credit card chip technology has done a lot to prevent skimmers at retailers and most major ATMs, so gas stations and non-major ATMs remain the primary targets of skimmers. This may change when gas stations are forced to comply with the merchant fraud liability shift in October 2020.
Although skimming can happen almost anywhere you use your card, you can prevent losing your data to a skimmer.
Here are a few simple ways to stay safe:
If you suspect your credit card information was skimmed during a recent transaction, you’ll want to respond with a few common measures. This includes notifying your bank, alerting the FTC and placing an initial fraud alert.
From here, you’ll want to keep an eye on your credit card accounts. Regular monitoring of your account can keep you informed of any unusual activity and let you quickly respond. You can also contact a credit monitoring service to help you maintain oversight of your account. These services automatically notify you if any changes or activity occur on your account.
Most credit cards at this point possess an EMV chip for an additional layer of security. If your credit card doesn’t have this feature, you’ll want to call your bank and see if you can receive a card that has one. While they won’t protect you from skimming, they do help protect against other forms of credit card fraud.
Moving forward, you’ll want to take a closer look at the card reader at any ATM or gas station you use. If it looks unusual, such as misaligned, loose or a different color than the rest of the device, you’ll want to skip on using your card there.
For more information on credit card security, check out our full guide.
If you find a skimmer or confirm that you’ve been a victim of one, first call your financial institution to let them know when and where you think it happened. Cancel your card and request a replacement, and follow up by email to further document your claim.
From there, place an initial fraud alert on your card. A fraud alert requires businesses to contact you before issuing credit in your name for up to 90 days.
Filing a police report and alerting the Federal Trade Commission (FTC) are also good practices. The FTC works to prevent skimming rings and catching crooks that skim.
There’s no sure-fire way to prevent skimming. Every time you swipe your card, there’s a chance someone could be attempting to carry off your info. Be aware of how and where your card is used to significantly decrease the likelihood of your personal and financial details being skimmed. Read more about credit card security to keep your personal finances safe.
Pictures: Getty Images
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