HOW TO PROTECT YOUR VIRTUAL MONEY?

Many people become victims of credit cards theft and some of them do not even not how and when it happened. Nobody, except for the owner, has used the card so how come the money is gone? These days it is possible due to skimmers – read on to learn what they are and how to protect yourself.

In the 17 second you can easily observe how fast the thief affixes his device to the payment terminal. Just a few seconds are needed to pilfer money from credit cards of unaware holders. How does it work and what it is?

Skimmer

Skimmers are small devices that scan and store data from the card magnetic stripe. They can be attached to payment terminals in stores, restaurants and other places where you can pay with card. When the card is pulled through the device, its data gets stored in it. This data may be sold and then used for creating a false but fully working card. The original card holder knows what is going on only when he notices unauthorized payments or when there is no money left on the account.

Fortunately now we pay with cards in a slightly different way, we do not pull a card through the terminal but use contactless payment or put a card into the device and type in the PIN. Even though, we should not feel safe, as thieves use also different methods.

The second most popular way of stealing credit cards data is modifying cash dispenser by installing an additional cover on a card reader. Device packed with electronics intercepts data from magnetic stripe before the dispenser does. This allows the thief to create the card‘s duplicate, but to use it they need the card‘s PIN. It can be gained by installing a camera above the dispenser keyboard, as the thief can get the digits from fingers‘ movements. Another option is placing on the dispenser‘s keyboard a cover that stores information on PIN.

How to avoid theft

Always keep an eye on your card

Surely you have been in a situation when, in a restaurant or store, the staff states they need to use a different terminal or go to the bar with your card. Do not give your card away to a stranger, and if you have to do it, do not lose it out of sight. The best option is to go to the terminal that is to be used together with staff.

Check the cash dispenser

When you want to withdraw money from a cash dispenser firstly check if it looks fine. Covers for credit cards are usually made from cheap plastic that looks different than the rest of the machine. When entering your PIN, cover the keyboard with your other hand. If you find something suspicious, do not hesitate to contact the bank or call the police.

Control your expenses

Skimmers usually withdraw money in low sums so that cards‘ holders are not aware that somebody is actually stealing from them as they go unnoticed. Maybe you have bought something but you don‘t remember? Strange loss of a few pounds does not raise suspicions. Thieves are aware of that, so it is vital to double check your spending and consult the bank if necessary.

There are still criminals that use the old Hollywood-style ways to steal money from cash dispensers – they try to tear them from walls and use crowbars and other tools to break them open. Technology gives more opportunities, thanks to it thieves steal our money in a discreet way, with no noise and higher effectiveness. Each of us can fall prey to them, so remember to take your plastic money as seriously as paper one.

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