Identity Theft Thrives with ATM Skimming Scams

2010 experienced a 33% increase in identity theft over 2009 and the Better Business Bureau is warning that ATM skimming is a growing problem. One in five Americans have fallen victim to this category of fraud, and in some parts of the country, you’re now more likely to be scammed while making withdrawals than being a victim of a direct, physical crime.

“The devices have become more sophisticated over time,” says Don Carroll of the U.S. Secret Service Electronic Crimes Task Force. He says technology may be contributing to the increase in criminal activity.

The best way to thwart identity thieves is to learn the tactics they use so you can be more cautious at the cash dispenser. Some scammers stick a magnetic stripe reader (the skimmer) over top of the card slot, while placing a fake number pad as well. They look so legit that many people don’t notice a difference. The machine functions normally, you walk away with your cash, and the con just captured your card information and your PIN number.


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Categories: Identity Theft

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