All technological marvels have their drawbacks and this is true of credit cards too. One form of credit card fraud is skimming or making copies of information stored on credit cards. Every time your credit card leaves your hands, it becomes vulnerable to skimming.
Skimming In Public Places
Skimming usually takes place in a retail store, restaurant or a shop. A dishonest waiter or cashier may swipe your credit card for payment and then swipe it again with a skimmer. This is a small pager-sized device with a slot, which can be easily purchased over the Internet. It rapidly records the information stored on the credit cards magnetic strip. This information is passed onto thieves who paste it onto counterfeit credit cards. Your money is now in their hands. The only way to prevent this is to keep a close watch on your credit card.
Skimming also takes place at ATMs, especially in less-supervised non-bank areas like malls. They are set up for skimming before your arrival. It could be a plastic sheet inserted inside the slot, which prevents the machine from reading your card. A small camera fitted on the ATM records your PIN number while you try repeatedly to...
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