Americans’ PINs at Risk for Scams
The Bank Fraud Forum reports that new places and unfamiliar ATMs are fertile ground for skimming scams that cost consumers and the ATM industry about $1 billion in annual global losses. Skimming involves stealing the information from a card’s magnetic strip or pilfering a consumer’s personal identification number, or PIN. It’s the most basic of ATM frauds. It can involve a peek over a shoulder or crooks posting small cameras or using telescopic devices to see the PIN. Skimming also happens with fake card readers and phony ATMs.
