| Credit card skimming scams is an increasing | | | | card. |
| phenomenon whereby a consumer's credit card is | | | | The more organized syndicates would often have the |
| duplicated and used elsewhere without the clients' | | | | equipment required to fake a specific banks' credit |
| permission or knowledge. These types of scams are | | | | cards' colour and designs ensuring they can operate |
| generally associated with organized crime syndicates | | | | successfully in public presenting the card as means of |
| who could not commit these scams successfully | | | | payment. |
| without the assistance of individuals in the retail sector. | | | | The lesser organized syndicates who does not have |
| Credit card skimming is one of the single largest | | | | the required equipment would need to rely on other |
| scams responsible for losses exceeding billions of | | | | criminals employed in the retail sector who would |
| dollars annually around the world. | | | | assist in accepting the credit card payment where a |
| How these scams are committed | | | | blank card is presented and swiped. |
| Fraudsters have developed devices, able to read and | | | | Fraudsters also recently started creating skimming |
| store the information at the back of a credit card on | | | | devices in the shape of a card slot of an Automatic |
| the magnetic strip, when the card is swiped through | | | | Teller Machine. This device will then replace the actual |
| the device. These skimming devices comes in various | | | | card slot of an ATM, recording all information on |
| sizes and shapes and have been built with the aim of | | | | magnetic stripes of cards placed into an ATM. |
| extracting information from the magnetic stripe of the | | | | Protecting yourself against these scams |
| credit card and storing it onto the device. | | | | 1. When presenting your credit card as means of |
| Syndicates typically approach individuals employed in | | | | payment it is always advisable that you accompany |
| the retail sector, accepting payment from clients. | | | | your card and keep your eyes on it at all times. Do not |
| These individuals are offered attractive remuneration | | | | allow a waiter or other employees take your card |
| for their services and are simply asked to swipe a | | | | away from your supervision. |
| clients' credit card through the device before or after | | | | 2. When placing your card into an ATM slot, ensure |
| processing the payment. These individuals are | | | | that there are no signs of tampering. |
| generally paid for the number of credit cards they | | | | 3. If your bank offers a real-time electronic alert |
| swipe through the device on a daily basis. In general | | | | service, whereby you can be informed of all |
| syndicates prefer to target employees of restaurants. | | | | transactions on your account, you should sign up for |
| Syndicates would, on a daily basis obtain the skimming | | | | this service. You will be in a position to identify |
| device from the person it was given to, and provide | | | | fraudulent transactions immediately or soon after they |
| him / her with a new device for the next days' work. | | | | occur. |
| After obtaining the device, the syndicate would | | | | 4. Always ensure that you have your credit card in |
| download all the credit cards' information from the | | | | your possession. If your card is not in your direct |
| device to a computer. From here the syndicate are in | | | | possession, ensure that your card is locked away |
| a position to transfer the information to a new card's | | | | safely. |
| magnetic strip, now having a cloned or duplicated credit | | | | Follow us for online hacks preventing. |