Skimming occurs when devices illegally installed on ATMs, point-of-sale (POS) terminals, or fuel pumps capture data or record cardholders’ PINs. Criminals use the data to create fake debit or credit cards and then steal from victims’ accounts. It is estimated that skimming costs financial institutions and consumers more than $1 billion each year.
- Fuel Pump Skimming
- Fuel pump skimmers are usually attached in the internal wiring of the machine and aren’t visible to the customer.
- The skimming devices store data to be downloaded or wirelessly transferred later.