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Monday, July 25, 2011

SKIMMING

SKIMMING is the fraudulent collection of confidential 
information from a credit/debit/ATM card by reading
the magnetic strip on the reverse of the card.  Fraudulent
conceal a skimming device in the card slot of ATMs, 
which scan the card, captures and stores its information.
A tiny strategically positioned camera may also be used
to capture the PIN.

Credit card skimming can occur in restaurants, shops etc.,
when you physically give control of your card to somebody
run your card through their skimming machine without
your knowledge.

Fraudesters use the captured information for online
shopping or to withdraw money from ATMs.