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ATM Skimming Is On The Rise

Posted Friday, January 15, 2010 in Credit-Mortgages-Finances
by Elaine Roxane Winter

ATM skimming is the rise, according to Consumer Reports.

Skimming is a nationwide problem but ATM fraud ranked among the top scams last year too. Law enforcement officials investigate ATM skimming scams, totaling almost$120,000 from customers’ accounts.

Not wanting to be caught, the thieves target unattended ATM machines in public locations like airports, kiosks or convenience stores. Skimmers break into bank computer systems and process banking transactions. Through these transactions, they get PIN numbers and other data needed to clone ATM cards.

Unfortunately, there's not much consumers can do to prevent themselves from being victims themselves but they can limit the damage by regularly checking accounts online.

Read the full article at Consumer Reports by clicking here.

Comments

If the banks are aware of this practice they can send confirmation notices to all users to varify the action was legal. When the account holder fails to respons they can notify local law officers to monitor the location and increase the possibility of preventing more loss from the compromised location. All customers of that proactive bank will appreciate the extra effort to protect their funds.
Comment By William D. Dugger At 1/19/2010 4:53 PM

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