What is a Credit Card Skimmer?
A credit card skimmer is a device that is linked to a real card reader by a criminal. Skimmers are frequently used by cybercriminals to access ATMs not run by banks and at fuel station pumps. The majority of the skimmers used in fuel stations are away from the sight of the station’s manager. Criminals use skimmers to check the information on the victim’s debit or credit card, so they can use credit cards to commit fraud or make counterfeit cards for sale on the dark web.
One method to determine if there are credit card skimmers is pressing the slot of your credit card. Typically, the skimmer can be able to easily fall off. If you take off the skimmer from its place, it ought to be reported to law enforcement officials and handed over to them.
Keep reading to find out more about how credit card skimmers function and how to spot them so that you don’t risk getting your credit card details stolen.
Difference Between Credit Card Skimmer and Shimmer
The major distinction between a credit-card skimmer and the glitter on a credit card is that skimmers are positioned on top of actual readers. They only scan the magstripe (the black strip that is on one side of the card) when you swipe your card. Shimmers are located in the middle of the reader cards.
They are extremely small devices when compared to skimmers and can’t be visible from the external view. In contrast to skimmers, they only operate when you insert the card in a reader for cards because they scan the chip on the card, either credit or debit, to steal the card’s information.
While shimmers and skimmers operate in different ways, their purpose is the same: to capture and steal someone’s credit or debit card data to use it for malicious purposes.
Also read: How to Spot and Avoid PayPal Email Scams
How Credit Card Skimmers Work
A credit card skimmer works by having a threat actor connect a scanning device to the reader. When a person inserts their card in a reader to buy the item, the skimmer scans the card in conjunction with the retailer. The transaction of the victim goes on just like normal, and they might not even realize that their card has been scanned until the moment it’s time to report.
If the skimmer scans a victim’s credit card and steals the following data:
- Cardholder name
- Card number
- Expiration date
- Card Verification Code (CVC)
After this information has been sifted and transmitted to the person who is threatening you via Bluetooth. The threat actor is then able to use the stolen card details.
What if My Credit or Debit Card is Skimmed?
If your debit or credit card is compromised, the data stolen may be used to commit credit card or debit card fraud, steal your identity or even create counterfeit cards.
Used for committing credit or debit card fraud
Fraud with debit and credit cards can occur when an unauthorised user makes use of your credit or debit card details to purchase items without your authorization. If you don’t recognize fraud on your credit card right away, the criminal may be able to max out your credit card, which could negatively impact your credit score and affect what you can buy at a later date. In the same way, if you do not detect fraud on your debit card in the first place, it may drain all the money in your checking account, which would leave you with a negative account balance.
Your identity could be stolen
Credit card fraud could be the start. If the threat actor knows your full name, they can search for additional details regarding you. If a threat actor collects enough details regarding you, you may be a risk of being a victim of identity theft. It could take time to recover from identity theft, depending on the damage caused by the threat actor.
Fake copies of your debit or credit cards
Certain threat actors could use the skimmed data on your card to make counterfeit cards. Fake cards are made by people who make copies of your card using information taken from your card. This is possible because when criminals steal a card, they copy the information from its magnetic stripe and imprint it on another card.
Counterfeit cards permit criminals to make purchases with the information on your card online and in person. Certain threat actors make it a point to sell replicas of their cards to other people via the dark web to earn money.
How to Spot a Credit Card Skimmer
There are 4 ways that you can identify credit card skimmers.
1. Check for a tampered security seal
Many gas stations have security seals on the panel of the gas pump. If the seal is damaged with the seal will be read “void.” If you observe that the gas pump’s security seal has been tampered be sure to avoid using the pump. It is recommended to avoid using it. The Federal Trade Commission (FTC) provides a photo of the way the damaged security label looks like. You can tell if the security label has been altered if it’s cut in the middle, or if it has”void” or “voided” on it.
2. Check for misalignments
A credit card skimmer is positioned over the card readers that are there, which means they can be visible if you pay close attention. If the card terminal or reader appears to be misaligned, this could be because there’s a skimmer connected to it that causes the card reader to appear odd. If you observe any type of issue with alignment on the terminal or card reader, you should avoid making use of it unless you’ve researched more thoroughly.
3. Wiggle the card reader
A card reader in an ATM or at a gas station shouldn’t move once it’s wiggled. If it does, it may be due to an electronic skimmer that is attached to it. Before putting your card into a reader, you should wiggle it to ensure it’s secure. If the reader moves, keep it out of the way and choose a different fuel pump or ATM.
4. Compare it with other card readers
If you’re at a petrol station, it’s a good idea to look at the readers of different gas stations before you insert or tap your credit card into the station you’re planning on using. This can assist you in determining whether one card reader appears different from others, and you don’t have to use the reader at that petrol station.
Also read: Signal App Scams: How to Protect Yourself
How to Prevent Credit Card Skimmers
The most effective way to prevent credit card skimmers is by using your credit or debit cards’ “tap to pay” feature. The majority of credit and debit cards have a feature called Tap to Pay that allows users to tap their card while making purchases, instead of entering or swiping their card.
It is also possible to avoid the hassle of paying using your physical card and instead use Google Pay or Samsung Pay to purchase online. These choices permit you to purchase without sharing your card’s data, and, as with tapping for payment, you only need to be able to touch your smartphone when you are paying.
The ability to tap purchases to pay by phone or card only works for merchants that can support this feature. You’ll have to identify the skimmer on your credit card to determine if the merchant that you purchase from does not support tapping to pay “tap to pay” feature.
Final word
A credit card is a serious threat to financial security. By remaining vigilant when entering your PIN and regularly monitoring account activity, you can reduce the chances of falling prey to skimmers while protecting the confidentiality of your data.
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