Over the years ATM cards have evolved to become a staple, and for many, a necessity in modern society. These digital cards offer an incredible convenience to consumers as a way to have quick access to banking at any given hour or day. No longer are individuals confined to what was traditionally known as "banker's hours." Thanks to ATM machines, people can access their bank accounts, make transfers or withdraw money at any time they want.
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What is skimming?
However, like with anything else, anything of tangible value typically comes with some drawbacks. ATM cards are no exception. Unfortunately, ATM fraud is running rampant and a process called 'skimming' is not only on the rise, but becoming more sophisticated in nature and harder to detect. ATM card skimming occurs when a thief attaches an external device to an ATM machine in order to capture any information stored on the bank card of an account holder. The information is then stolen and used for illicit purposes, mainly theft.
How do skimmers work?
How it works is the physical skimmer, which is a magnetic head, is attached to the ATM machine and positioned on top of the card insert; the skimming device is usually designed to look authentic. Once the user inserts their bank card, the fraudulent device then intercepts the data stored on the ATM card; at this time the user will often see some sort of error message. In addition, thieves also use small pin-sized cameras which can read PIN numbers punched into the ATM keypad, and sometimes mirrors are used to help capture information.
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