Protect Yourself from Skimming

3/24/2011

 

 

Technologically-savvy thieves have found ways to steal money without your wallet ever leaving your possession. One popular method is to attach a skimmer to a legitimate ATM or gas station terminal. When you insert your ATM or debit card, the skimmer reads your card information, and the PIN is captured with a hidden camera or keyboard overlay device. Then, they can put your information on a blank magnetic card or use it to shop online until your account is drained.

You don’t have to never use your cards to keep your accounts safe. Just keep in mind the following tips:

• Before inserting your card, see if the card slot wiggles. If it does, there may be a skimmer on it. Use another terminal, and let your financial institution know.

• Try using the same ATM for all of your transactions. You are more likely to notice if the machine has been tampered with if you are using a familiar one.

• Cover the keypad when you enter your PIN. If a hidden camera is being used, this prevents the camera from capturing it.

• Always check your account statements for fraudulent activity. If you see any suspicious charges, notify your financial institution immediately.

Looking for more financial advice? As a benefit of your membership, you have access to BALANCE, a free financial education and counseling service. Their certified counselors can answer your questions, review your credit report, and help you create a budget. Call 888-456-2227 or visit www.balancepro.net for more information.