July 30, 2009

• Protect Yourself From Debit Card Scams, Pt.3
    Phishing and Skimming.

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  Phishing is the term used for criminal activities when the criminal lures unsuspecting individuals to a fake website to steal their debit or credit card information, passwords, financial information, or attack their computer with a virus. Phishing occurs when criminals send you an email claiming to be your bank or credit card company that contains a link. It asks you to click on the link and takes you to a web site to verify your card information and sometimes your Social Security number. A major red flag; typically these card scam emails have typographical errors. Banks never send customers emails requesting their debit or credit card information or any other financial information. If you should receive an email of this kind, contact you bank immediately.

  Skimming takes place when a criminal has some piece of electronic equipment that allows them to scan your debit or credit card to retrieve the card's information. At one time, waiters and other retail clerks carried a small pocket size skimmer. After handing them your card, they would scan the card through the skimmer to retrieve the card's information. Then proceed to scanning it through the register to complete your payment transaction. They have now stolen and stored your card information for future use. Criminals have developed more sophisticated ways to skim. One of the most recent occurred when they place a skimmer over an ATM machine slot and a hidden camera to view the PIN entry. They gather several different debit or credit card numbers and then remove the skimmer when no witnesses are around. Outdoor ATM machines are more vulnerable to these scams.

  Reduce your chances of having your debit or credit card information stolen by using the bank's indoor machines, and keeping your eye on anyone you hand your card to for payment. Also, check out virtual cards for use with online purchases. Most banks offer them at no charge. Click on the link below to learn more about the virtual card.

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