You may want to be more cautious the next time you use an ATM.
A recent spike in stolen bank account data has been attributed to a global network of thieves who are exploiting ATMs with inexpensive technology.
It is called ATM skimming, and it involves the scanning, or skimming, of your credit card’s magnetic strip, and the capturing of your PIN number from a nearby camera.
Thieves use inexpensive parts, many available online, to construct authentic looking facades on ATMs. They place a dip reader, or card reader, over the debit card entry slot. Your card is skimmed as it slides into the bank’s official card slot.
The card’s data is harvested along with a video capture of you entering your PIN. The contents of your card’s magnetic strip are cloned onto blank cards where thieves quickly visit different ATMs and drain all of your funds.
You can see a breakdown of the components here.
Below is a list of three important steps you can take to protect yourself from this growing fraud.
1) Location
The location of an ATM can make it more susceptible to skimmers. Skimmers look for hidden ATMs in highly trafficked areas. This gives them access to a high volume of transactions and helps them to discretely add and remove necessary equipment.
Skimmers may attach their equipment for only a few hours at a time. They usually add and remove the equipment during low traffic times of day, usually early in the morning and late at night.
You should seek ATMs that are located in clear view of people in heavily trafficked areas. A good example of this would be in supermarkets or department stores.
2) Changes
There are two important components to a successful skimming operation, and noticing them will help you determine if your ATM has been compromised.
First, there will be a mechanism affixed to the front of the card entry slot that will do the skimming of your card’s magnetic strip. It will be designed to match the overall look of your ATM.
You should closely observe your card entry slot and look for any new or unusual additions to it. If it appears bulky, loosely attached, or sticky then it may have been compromised.
Secondly, there will be a micro-camera located over the keypad. This tiny camera will be used to record and wirelessly transfer your PIN number entry. The camera and transmitting device could be attached above the ATM, on the sides, or disguised as a brochure holder.
3) PIN
A compromised machine can successfully capture your card’s magnetic data. That financial information is not useful for criminals unless they have captured the corresponding PIN number.
You should take precautions and shield your keypad with your hand and arm as you’re entering your PIN number. This will help to protect you from having your number captured by a hidden micro-camera.
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