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Step 1
First you have to understand Credit and Debit card fraud. There are 2 main types of credit card fraud, Counterfeit and Number Stolen. Counterfeit is when the Perpetrator uses a skimming device to steal the info from the magnetic strip on the back of the card and uses this to make a copy of your card. Number Stolen is when they just steal your Credit card number and expiration date.
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Step 2
Counterfeit:
Perps can use skimming devices on many merchants card readers. The most common places they are used is at Gas Station Pumps and ATM's. Also a waitress or waiter at a restaurant could carry a skimming device with them and skim your card when they take your card to pay the bill. Skimming devices are hard to detect. They look legit and cover the real card reader. -
Step 3
ATM SkimmerPrevention: At ATM's cover up when you put your pin in and only use trusted ATM's. Try not to use ATM's on the street as these are more accessible to Perps. Also make sure the card reader looks like the other card readers at the surrounding ATM's.
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Step 4
Prevention: At Gas stations make sure the Card Reader looks exactly like the other card readers at surrounding pumps. Most Skimmer's will stick out further then the normal reader however is very hard to spot. I usually give the reader a little tug to make sure.
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Step 5
Prevention: Number Stolen: Your card number can be stolen in many ways. The best prevention is when using your card online use only trusted secure sites.
Comments
evgnspaces said
on 8/27/2009 thanks for the heads up I didn't know about skimmers for card readers.
swatil said
on 8/22/2009 it wud have been grt if cud post sumthng on mechanisims of debit and credit card or say their working
patysson said
on 8/21/2009 good work, thanks
lenamv24 said
on 8/21/2009 Great advice, thank you for this article! 5*
peachcove said
on 8/20/2009 Thanks for the good info!