Protect Your Banking Information

It seems that whenever we think that we have taken every possible precaution to protect our families, assets, and even ourselves, we meet another stumbling block.

The latest one, the crime called, "skimming", is designed to obtain your bank and/or credit card information, without your knowledge or permission. This crime is not new, but has simply advanced itself with the use of today's technology. According to the U.S. Secret Service, "this is the financial industry's fastest growing crime."

Any ATM or card reading device can be rigged to swipe your account number, pin number, or password. Skimmers use a false front, fabricated and designed to fit over the face of an ATM machine.

There are two types of skimming devices, commonly used. One will block the ATM's operation, one will not. At any rate, both are designed to steal the information from your debit or bank card. Since accessing your account using an ATM machine is a two step process, (1) swiping your card and (2) entering your pin number, then the skimmer will typically need two pieces of equipment to steal this information. He'll require the swiping device itself and a pinhole camera or wireless cam to capture the pin number as it is typed on the keypad.

These are the bad guys, but they are well schooled at what they do. They will clean out a savings or checking account if the opportunity arises. The nature of this crime enables these thieves to access many accounts, because they are gathering information from all transactions at a particular ATM machine. What makes this crime more appealing to these individuals is that there is no face to face confrontation and the potential for a large payday.

The common belief is that most skimming operations work out of rings. They stay in one place a few days and move on to continue the cycle of theft and fraud.

1). Protect your pin number, don't give it to anyone else.

2). Get in the habit of using the same ATM, when necessary. Become familiar with it, so that you will notice any physical or outward changes.

3). Don't use ATMs in remote, poorly illuminated areas.

4). If you are suspicious, go with your instincts. If something seems or feels wrong use a machine in another area.

5). Use ATMs, that have video surveillance cameras in operation.

6). Since most skimming equipment is attached with two-sided tape, the ATM facing may be loose. It's okay to test the facing for firmness. (Don't damage the real thing).

7). Look for mirrors, pamphlet holders, dimly blinking lights, lack of blinking lights, or any protuberance that could hide a small pinhole camera.

8). Think ahead, use the cash back feature at grocery and department stores when shopping, if using your debit card.

9). Shield the keypad when typing your pin, use your hand or a magazine. It might sound a little paranoid, but that beats having your accounts drained.

10).Try to educate everyone you know about this crime and what to look for. The more people on the alert, the better.

A FEW CLOSING REMARKS

If misfortune befalls you and you are victimized, notify your bank as soon as possible. Some banks will replace all of your stolen funds, but as always check with your banking institution to find out what its policy states.

There are some high tech security measures being instituted around the country to help minimize this crime. ADT, has developed security specifically aimed at this, and supposedly does not interfere with the ATM's software. Consumers may have to act as one to get the financial industry to move a little quicker on implementing security measures.

Arm yourself with knowledge!!!