ATM skimming is a high-tech crime in which illegal devices are used to electronically steal or copy cardholders' personal financial information. Identity theft can easily be carried out by copying the information on a credit card's magnetic stripe using any magnetic reader.
Anti-skimming refers to preventing the copying and theft of card information described above.
Almost all ATMs on the market now have anti-skimming measures in place. However, fraudsters are also constantly working to develop solutions that can bypass the anti-skimming measures on ATMs. Banks and ATM manufacturers need to periodically review their existing anti-skimming measures and strengthen them against attack vulnerabilities.
Tips for spotting a skimmer
Parts of the card reader slot that wobble or look like they have been added on, an extra covering over the keypad, or the suspicion of a hidden camera around the ATM are all warning signs. It is helpful to gently tug on the reader before inserting your card.
Covering the keypad with your hand while entering your PIN makes it harder for a camera to capture it. Using chip card and contactless transactions makes copying from the magnetic stripe ineffective.
If you notice a suspicious device, do not proceed with the transaction and inform your bank.
