CAN'T SEE THE VIDEO about Bank and ATM Identity Theft?
phishing and ATM fraud
“Skimming” is the latest
electronic device employed by thieves to separate consumers from their
hard-earned cash. A sophisticated device reads all of your account
information that is stored electronically on the magnetic stripe on the
back of any ATM, debit or credit card. Depending on the level of
sophistication, the device may even be able to read the personal
identification number (or PIN) used to access the account. The thieves
can quickly empty the account and go on to their next victim.
ATM skimmers may or may not interfere with actual ATM operation, which
makes the fraud difficult to detect by unknowing consumers. Law
enforcement reports that the thieves are competent, the equipment
professional and the technology sophisticated. Recently, in New York, a
crime ring installed more than 20 modified ATMs, compromised more than
26,000 accounts and caused losses to consumers of over $3.5 million
dollars before the case was solved by authorities.
should be aware of anything that looks odd or out of place at the ATM,
including an extra faceplate or unusual signage on the unit. Be wary of
strangers that want to help you use the ATM – they may be shopping for
your PIN number as well. If your card is not returned to you immediately
after using the ATM, contact your financial institution immediately to
report the missing card.