Tips to spot and safeguard against ATM Skimming
Criminals who use ATM skimming devices know their days are numbered with the introduction of EMV / Pin and Chip technology. As a result, the instances of ATM skimming, the act of reading a customer's mag strip and capturing the pin number as they enter their code into an ATM, have skyrocketed. EMV / Pin and Chip technology is planned to go into effect in October 2015; however, latest trends suggest not all merchants or banks will be ready until sometime in 2016. This means until all banks and merchants implement this technology, we'll still have the risk of having to swipe our cards.
What can someone do to protect themselves?
- Always check for a skimming device on an ATM machine. Scammers are known for placing the device directly over the swipe reader, or drill a small hole in the machine and hide it inside. Do not use the ATM if you suspect it has been tampered with and notify the bank right away.
- Remember to cover the PIN pad with one hand while typing in the PIN with the other. Any camera trying to capture the information will not be able to see the action on the PIN pad.
- Regularly check your account activity. Specifically, look for any unauthorized transactions and report them right away.
- Set up notification alerts through online banking to text or email when a transaction has occurred.