Members of the public are advised to be vigilant when making payments as the skimming of cards is said to be on the rise in South Africa.
According to Mike Bolhuis, proprietor of Specialised Security Services, card skimming is a form of theft in which criminals use small devices called skimmers to illegally collect data from the magnetic strip of a credit or debit card.
These skimming devices are often discreetly installed on legitimate card readers, such as ATMs, gas station pumps, or point-of-sale terminals. When a card is swiped or inserted into the compromised device, the skimmer captures the card’s magnetic strip data, including the card number, expiration date, and sometimes even the cardholder’s name.
There are many dangers associated with card skimming. It could lead to fraudulent charges. With the stolen card data criminals can create counterfeit cards or make unauthorised online purchases, leading to fraudulent charges on the victim’s account. It could also lead to identity theft. In addition to financial losses, victims of card skimming may also be at risk of identity theft if personal information obtained from the card is used to commit further crimes or establish false identities. Thirdly, card skimming could also lead to compromised accounts.
Skimmed card data can be sold on the black market, exposing victims to ongoing risks of unauthorised account access and financial exploitation.
Members of the public can take the following precautionary measures to protect themselves from card skimming:
* Inspect Card Readers: Before using an ATM, gas pump, or any card reader, inspect the device for any signs of tampering or unusual attachments. Also look for loose parts, adhesive residue, or anything that appears out of place.
*Use Trusted Locations: Whenever possible, use ATMs and card readers located in well-lit, high-traffic areas or inside trusted establishments, as these are less likely to be targeted by criminals.
*Cover Your PIN: When entering your PIN at an ATM or point-of-sale terminal, cover the keypad with your hand to prevent hidden cameras or onlookers from capturing your PIN.
* Monitor Your Accounts: Review your bank and credit card statements regularly for unauthorised transactions. Report any suspicious activity to your financial institution immediately.
*Enable Fraud Alerts: Many banks and credit card companies offer real-time fraud alerts that notify you of suspicious transactions. Also consider enabling these alerts for added security.
* Use Contactless Payment: Consider using contactless payment methods, such as tap-to-pay cards or mobile wallets, which may offer enhanced security compared to traditional magnetic stripe transactions.
*Report Suspected Skimming: If you suspect a card reader has been compromised.