| All technological marvels have their drawbacks and | | | | you try repeatedly to access your account. You |
| this is true of credit cards too. One form of credit | | | | leave believing that the ATM has swallowed your |
| card fraud is skimming or making copies of | | | | card. The thief turns up and takes your card and the |
| information stored on credit cards. Every time your | | | | camera. He can now withdraw large amounts from |
| credit card leaves your hands, it becomes vulnerable | | | | your account. |
| to skimming. | | | | A superior technique allows you to withdraw cash |
| Skimming In Public Places | | | | but a camera records your PIN number while a |
| Skimming usually takes place in a retail store, | | | | skimmer inside the ATM reads your credit card. |
| restaurant or a shop. A dishonest waiter or cashier | | | | How To Avoid Skimming |
| may swipe your credit card for payment and then | | | | To reduce skimming-related risks, simply walk away if |
| swipe it again with a skimmer. This is a small | | | | you find anything suspicious about the ATM. If the |
| pager-sized device with a slot, which can be easily | | | | machine swallows your card, report it immediately. |
| purchased over the Internet. It rapidly records the | | | | Apart from these measures, always check your |
| information stored on the credit card's magnetic strip. | | | | credit card statements carefully for surprise |
| This information is passed onto thieves who paste it | | | | purchases. Keep low credit limits to minimize losses. |
| onto counterfeit credit cards. Your money is now in | | | | Tear up all receipts, slips and statements after using |
| their hands. The only way to prevent this is to keep | | | | them, preferably with a shredder. Credit card |
| a close watch on your credit card. | | | | companies are also vigilant. They usually ring up |
| Skimming also takes place at ATMs, especially in | | | | customers immediately if they find unusual purchasing |
| less-supervised non-bank areas like malls. They are | | | | patterns. Newer technologies in credit cards and ATM |
| set up for skimming before your arrival. It could be a | | | | machines also make skimming impossible. However, |
| plastic sheet inserted inside the slot, which prevents | | | | the changes are not yet universal. Till then, keep |
| the machine from reading your card. A small camera | | | | your eyes on your credit card. |
| fitted on the ATM records your PIN number while | | | | |