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4 Ways to Prevent Credit Card Skimming

Posted October 18, 2021 by EasyFinance.com to Finance 0 0

Credit card skimming is a process that enables fraudsters to skim or read credit card details. Using special tools and software, credit card skimmers can capture credit card numbers, expiration dates, and security codes and use these to make unauthorized purchases.

Businesses and consumers will need to be aware of such fraudulent tactics. Apart from buying unnecessary items and goods, skimmers can also sell credit card information on the black market and use a cardholder's identity for illegal purposes.

Whether you are paying for a home loan or buying a new car, here are four of the best ways to protect your income and keep your transactions secure.

1. Know the ways your card can be skimmed

It pays to be aware of the different techniques that fraudsters employ to steal credit card information. The most common is the use of a special card-reading device that's installed in an ATM or a payment terminal. The best way to know the presence of such a device is to check if the ATM or payment terminal has been tampered with. If you are withdrawing money from an ATM, look for a security seal and see if it's intact. If there's any indication that it was cut, you may want to use a different machine.

2. Be careful when using gas pumps

Gas pumps are a favorite target for credit card skimmers. Typically, fraudsters sneakily install card readers during the night. When drivers stop by for gas and swipe their credit cards, they unknowingly have their card information skimmed. Just like you would at an ATM, make sure you check the payment terminal at every angle for evidence of tampering. To be sure, consider using the pump that’s closest to the cashier. You will also need to check if the pump you are using has a void sticker.

3. Swap your RFID card

If you purchase goods and services online, an RFID credit card is necessary. However, this type of card is vulnerable to skimming. Fraudsters can simply use an RFID scanner to capture information even if the card is kept inside your wallet. You can prevent this by simply asking your credit card company to replace the card with one that doesn’t have RFID. If that’s not possible, consider wrapping your cards in aluminum foil.

4. Opt for a card scanner

On top of QR codes, businesses are also using a credit card scanner to provide a more seamless experience in making contactless payments. Such technology works well for online purchases since you won’t need to enter your details. Using an app and your phone’s camera, you can simply scan your card and provide the vendor with your credit card details instantly. That way, you can protect yourself from keyloggers that fraudsters use to track your keystrokes.

It’s important to be aware of how criminals can get away with your credit card details. Unauthorized purchases are the least of your worries, so consider these tips to keep yourself safe while you use your credit card in both public and private situations.

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