Thieves now days are using high-tech gadgets to steal your hard-earned money. A case in point is the rampant use of counterfeit credit cards that utilise the information stolen from the original card. The information includes card holder’s name, expiry date along with the credit card number. The same stolen information can be used for making an online purchase as well.
The gadget or tiny devices used for stealing your credit card information are known as skimmers. These devices are installed over the credit card readers. Once you swipe your card in the reader your information is fetched by the skimmer which is further used for unscrupulous purposes. Brooklyn Lowery Editor of CardRatings.com says that you must be aware of the machine through which you are sliding your card.
Of late, credit and debit cards are being incorporated with microchips that contain encrypted card member information and makes it impossible for counterfeiters to copy it. Lowery says that chip readers offer security which is hard to penetrate but no system is theft proof and it seems even thieves have become technologically superior to counter new security technologies. Another corporate security officer said that micro chip embedded cards are more secure but people at gas stations are still swiping their cards which make them susceptible to skimmers.
Gas stations and ATMs can be easily targeted by skimmers because they are not monitored by a person. Even restaurants are prone to skimming because you have to hand your card to someone. So make it a point to stay aware when your card is swiped or used. Lowery also adds that debit card owners are more susceptible to thieves compared to credit card owners who are much safer.