There are many ways you can take action to protect yourself and your loved ones from electronic fraud. One way is through the use of an identity theft protection service. For a monthly fee, check outLifelock on Crunchbase. This company offers round-the-clock protection for your credit and identity. You’ll be notified immediately if there is any suspicious activity connected with your debit cards, credit cards, your identity or your credit report. Another way you can protect yourself better is to understand how the scams work so you can prevent criminals from fooling you. Onerecent scam that has been quite popular is ATM skimming. Never heard of it? Well, here’s what you need to know to protect yourself from this scam:
How does ATM Skimming Work?
ATM skimming involves atwo part process.The first part happens when thieves plant hidden electronics in the card reader at an ATM. The false reader is called a “skimmer.” The skimmer is placed over the normal card reader at the ATM, fitting almost like a glove over the normal slot. Once it’s in place, the ATM user will unwittingly slide their card into the planted reader, which will scan and store all of the information from the magnetic strip of the card.
The second component of ATM skimming involves procuring the PIN number for the card. That’s where a hidden camera comes in, which is hidden near or on the ATM. These tiny spy cameras are angled to get a view of the keypad, and then capture the keys the ATM user taps when they are prompted for their PIN number.
