The fact that the deadline for gas stations to install credit card chip readers on their pumps got pushed back to 2020 means that you now have two more years to try and avoid credit card skimmers. The situation has become so bad that it’s actually become something of a rat race. In Florida alone, authorities are on pace of finding skimmers in about 1,000 gas pumps. That is up from 650 pumps in 2017. This goes to show you that the practice is gaining steam and that you have to be more careful now when pumping gas or using your credit card anywhere.
Credit card skimmers are sophisticated devices placed inside credit card readers such as fuel pumps and ATMs. These devices relay your credit card information to the perpetrator without your knowledge. With that information, the individuals involved can create multiple duplicate cards, and either use them or sell them off. EMV chips were added to credit cards to reduce this risk, but now credit card shimmers can target these cards.
Either way, it is you that will suffer as soon as your credit card company realizes something is off and shuts it all down. The recovery process could take months, and in that time your credit score can take a nose-dive.
Most credit card skimmers are designed to look like your typical EFTPOS machine or the hardware on an ATM. Once you run your card through one of these machines, it captures the information saved on the magnetic strip and either stores it within the device until the responsible credit card thieves retrieve the device to get the information or, in many cases nowadays, that information is sent to the culprit’s phone. Some credit card skimmers have become so sophisticated that they send the information wirelessly back to the thieves in real time (as you swipe your card).
To be honest, it is very difficult for a regular shopper such as yourself to spot a skimming device. After all, whenever you go into a store or a gas pump to use your card, you expect that the establishment has done everything in its power to keep its customers’ financial information secure. So you are not going to be looking around to see if there are any unscrupulous looking individuals with a weird machine trying to steal from you.
However, having a slight idea of what to look for or the telltale signs of card skimming devices could help save you a whole lot of grief:
Once you notice any of these signs of skimming fraud, even if you are not too sure, do not use that machine. Report the matter to the management and if you have already used it then report it to your credit card companies as well as the police. These reports will come in handy when you have to try and recover your stolen identity.
While most of the tips here are not exactly foolproof, they will help you remain more vigilant and could very well protect you from amateur card skimmers:
You can also help further safeguard your card by activating some of these features:
Some of these services may cost you a little extra, but the price you pay is worth it compared to the headache you will experience should a fraudster end up capturing your card details and stealing your identity. It takes a bit of vigilance and some proactivity, but you can minimize, if not eradicate, the risk of getting your financial identity stolen by card skimmers.
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