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The problem of identity theft is a serious issue. Credit card companies, individuals, and businesses are all taking steps to help prevent this crime from happening. The only people who benefit from identity theft are the thieves. Many people worry that the thieves are getting more sophisticated. The challenge for companies and individuals is to try to figure out how to stay a step ahead of the thieves. While this is important, it is also important to put up a defense against the techniques that have been used in the past to commit this crime. One of the favorite methods that thieves have used to steal credit card information from consumers is skimmers. These are tools that are used to record the information that is on the magnetic strip on the credit card. The skimmers can record the information and that information will be retrieved later by the thief. They will then use that information to use the credit card for fraudulent purchases. How it works A credit card skimmer is a device that will either stand alone or that can be attached to a machine that reads credit cards, such as an ATM. The device will record the information that is on the card when it is swiped. There are also machines that a waiter or sales clerk takes a card from the consumer. If they have the opportunity, they will swipe the card through a skimmer and will get the information off of it later. Once a credit card has been run through a skimmer, the thief has all they need to commit credit card fraud. They will have the consumer’s credit card number and then can use that number to make purchases with. If the fraud is not caught, a thief might charge thousands of dollars on that card before they are stopped. When one card stops working for the thief, they move onto the next card information stored in the skimmer. Stopping it from happening Once consumers and businesses recognize that skimming of credit cards is still a major problem, they can take steps to prevent it from happening. There are several things that businesses, credit card companies, and consumers can do to prevent credit card theft via skimmers.
- Don’t let the card out of your sight. Many businesses now have credit card machines that the consumer swipes their card in. If the card does not leave the hands of the consumer, a thief cannot use a device to skim the card without the consumer knowing.
- Look for machines that have been tampered with. It is often easy to see if a skimming device has been put onto a machine. If a machine looks like it has been tampered with, do not use it. It is also a good idea to only use machines from businesses and locations that you trust.
- Monitor your credit card accounts. It is easy to check your credit card on a regular basis by going online. You can see any recent activity as soon as it happens; you do not have to wait until you see a bill to spot credit card fraud. Instead you can react right away and stop a thief from doing more damage.
- Get credit card protection. Most credit card companies offer some type of credit card protection that will help spot any fraud that occurs on your account. It will also protect the consumer from having to pay for charges that result from someone who used a skimmer on them.
- Credit card companies watch for unusual activity. If you have a bunch of charges in a different state, the credit card company may deny the card until the consumer calls and verifies the purchase.
There is no doubt that thieves have become more sophisticated in the way they work to steal people’s identity. It is a problem that is not going away. The people who are most likely to be victim’s are the ones that are not vigilant. When you pay attention to where your credit card is, how it is used, and any activity that goes on, you will be less likely to be victimized by skimmers or any other fraud technique.Kedy Si is an active blogger who is fond of writing articles on Credit Card Fraud and educating people what to do if your card is lost or stolen before someone take advantage of it. Follow her on Twitter to know more on skimming can still be used to commit credit card fraud.
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