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3 Methods Identity Fraudsters Employ To Skim Your Personal Data

April 24, 2012 | Comments: 0 | Views: 166

It looks like having to pay by check will go the route of the analog TV. For years check fraud was widespread as well as something law enforcement officials had a hard time handling. Now it is on the decline as reported by the Financial Crime Enforcement Network. Why is it on the decline? Apparently folks are beginning to utilize fewer paper checks.

Regrettably the same thing can't be said for debit cards. Since their use has increased so too has the amount of crimes. Among the techniques that is extremely prominent in some of these crimes as well as charge cards on the whole is skimming which ranks as one of the top five ways criminals commit identity theft.

Skimming takes place whenever a compact piece of equipment is used to read your personal charge card information without you being aware. The tool after analyzing the credit card makes a photocopy that identity thieves utilize to drain your account dry. There are a couple of ways they can carry out skimming.

1. The Automatic Teller Machine

This skimming apparatus is installed at an ATM without anybody noticing until it's way too late in the game. It functions particularly well when the ATM is inside the financial institution's vestibule. Thieves sometimes will configured it so that it not only skims your information but takes the charge card in order to give the appearance of being caught in the ATM. Once you leave to notify someone the bandit makes their move and removes the card before you get back.

Just how well does it work? Recently a California resident. Officials said the individual installed the skimmer and afterwards used the information to make fake debit cards

2. The Retail Store or Restaurant

The check arrives and you hand the card to the waitress. They go in back and simply swipe the card. From time to time it's a little more audacious. You give the card to the cashier and they have a skimmer right there. However the device is so inconspicuous and the transactions happens so fast that you don't realize what is going on.

3. The Gas Station

This may not be a brand new occurrence however it is increasing especially with the growth of the self-service pump. The skimming operates in the same way as the automatic teller machine. Identity thieves arrive whenever the service station is closed (sometimes not) and install. As you pay for your gasoline the charge card information is recorded. As things gets a little more state-of-the-art the identity thieves do not even have to make an appearance. The information is relayed to a remote server where criminals are waiting to document your information.

To get more info on identity fraud stop by identity theft and fraud information.

Source: EzineArticles
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