Credit Card Skimming-ssdao

Credit A major contributor to credit fraud and identity theft is Credit Card Skimming. Your banking credentials can be stolen when the digital information contained within the cards magnetic strip is obtained or when the cards PIN is digitally obtained. Credit and debit cards contain Card Verification Data. This is the security code generated by the bank and stored on the magnetic strip of the card. Usually card holders themselves have no any idea what the code is, and the only way to access it is by digitally copying all the data from the magnetic strip. And with an increase in the number of people possessing the technical expertise required for credit card skimming, these incidents are bound to continue unless strict guidelines are followed to prevent it from happening. To prevent it, it is essential to first understand how credit card skimming works. How It Works In most cases, skimming works by refitting a legitimate card reader with another fraudulent one. Skimming is usually done in restaurants or during other purchases in which a careless card holder is unaware that the information on his card is being copied onto a skimmer, a device used specifically for this purpose. Skimming devices are also sometimes hidden in ATMs. The magnetic strips on a credit card contain information such as your name, address, telephone number, card number, PIN and credit limit. Thus, when a card is skimmed, you can see what is at stake and the extent of access the skimmers hold. It is difficult to ascertain whether your credit card has been skimmed or not. Most card holders never realize the damage until they receive their billing statements or discover the overdraft notices. How to Prevent Credit Card Skimming Now that you understand how skimming works, here are some suggestions that can help you avoid it: Examine your bills closely. If you .e across any unauthorized changes, you could be up against skimming. Make sure there are no devices attached to an ATM before using it. One reliable option is to use a familiar ATM that you are .fortable with. While shopping or at restaurants, keep a close eye on your credit card. These are probable places for skimming to occur because card holders lose possession of the card for a few minutes. You can place a fraud alert on your credit report. This will ensure that your identity is authenticated before an application in your name is approved. This can prevent identity theft to a large extent. If you wish to report credit card skimming, contact your creditor and update them immediately. The FTC (Federal Trade .mission) offers help with credit cards that are stolen. The charges for a stolen credit card are minimal, and if only the credit card information has been lost, you will not be liable for any charges. As always, be very cautious about using your credit card. To know more, please visit Debt Burst at Credit Card Theft About the Author: 相关的主题文章: