Skimming is one of the financial industry’s fastest-growing crimes, according to the U.S. Secret Service. Also, the worldwide ATM Industry Association reports over $1 billion in annual global losses from credit card fraud and electronic crime associated
Skimming is a relatively low tech crime. It can occur in a few different ways. The most common is when a store clerk takes a wedge card skimmer and runs your card through and skims the information off the magnetic strip.
Once the thief has the credit or debit card data they can place orders over the phone or online.
They can also rip the data from the wedge and burn to blank “white” cards. These white cards are effective at self checkouts or when the thief knows the clerk and they “sweetheart” the transaction. These white cards can also be pressed with foils to look
like a legitimate credit card.
Then there is a more sophisticated skim. Thieves actually place a hard device on the face of the ATM that looks like the ATM. It’s almost impossible for a civilian to know the difference unless they have an eye for security, or the skimmer is of poor quality.
Often the thieves will mount a small pinhole camera on the side of the ATM in a brochure holder to extract the victims pin number.
Its not just ATMs that are potential marks, gas pumps are just as vulnerable. See video of me discussing Here and another article Here
ADT Unveils Anti-Skim Tool
ADT has a new technology that prevents ATM of skimming. I haven’t seen it yet, but it sounds promising. The ADT Anti-Skim™ ATM Security Solution helps prevent skimming attempts and detects skimming devices on all major ATM makes and models.
ADT’s anti-skim solution is installed inside an ATM near the card reader, making it invisible from the outside. The solution detects the presence of foreign devices placed over or near an ATM card entry slot, without disrupting the customer transaction or
operation of most ATMs. Also, the technology helps prevent card-skimming attempts by interrupting the operation of an illegal card reader.
The ADT Anti-Skim ATM Security Solution:
• Helps protect the integrity of cardholders’ personal financial information during ATM transactions.
• Can trigger a silent alarm for command center response and coordinate video surveillance of all skimming activities.
• Requires no software adjustments to the ATM.
• Does not connect to or affect the ATM communications network.
• Has more than 40,000 successful ATM applications worldwide.
Prior to its North American introduction, the ADT Anti-Skim ATM Security Solution was successfully field tested on dozens of ATMs of four major U.S. financial institutions in controlled pilot programs. Testing pilots yielded positive results, with no known
skimming compromises occurring.
Again, I haven’t seen it. But would like a first hand demonstration. ADT, Have your peeps call my peeps.
Robert Siciliano Identity Theft Expert discussing ATM skimming Here