What is card skimming
Skimming obtains personal data from ATM, debit, or credit cards used at an ATM or a merchant location.
People can alter equipment on legitimate ATMs to steal the magnetic stripe data from the cards being used and the PINs assigned to those cards.
A skimmer is a card reader disguised as part of an ATM. The skimmer attachment collects card numbers and PIN codes, then replicated into counterfeit cards.
When you slide your card into an ATM that has a skimmer attached, you’re unwittingly sliding it through the counterfeit reader, which scans and stores all your information from the magnetic strip as well as capturing your PIN from the keypad. This makes skimmers particularly dangerous compared to other forms of card compromise because the collected card data can be used to make ATM cash withdrawals.
Credit card skimmers are devices that enable thieves to steal card data and use it for fraudulent transactions. They’re added to card reader devices to capture your information.
How Do Credit Card Skimmers Work?
A credit card skimming device reads the magnetic stripe on your credit or debit card when you slide it into a card reader at an ATM, gas pump, or other points of sale. The skimmer then stores the card number, expiration date, and cardholder’s name. These stripes even appear on chip-enabled cards.
What happens when your credit card is skimmed?
Skimmed data typically is:
- Transmitted to other countries where the copied information is transferred onto counterfeit cards.
- Used to make internet or over-the-phone purchases, known as “card not present” fraud.
- Used to carry out identity theft. This occurs when a criminal relies on your stolen personal data to set up accounts or take out loans in your name.