Credit card skimming is a way that fraudsters steal sensitive information using a small device (a skimmer) attached to a card terminal. The skimmers lift the data off of a card’s magnetic stripe, which can then later be used for fraudulent activities.
Typically, skimmers are found in retail locations and on gas pumps. Many merchants that utilize point of sale terminals should be on the lookout for these devices, which can be easily attached to terminals and often blend right in. They can also use cameras nearby to record and steal PIN numbers associated with cards.
Here are five tips to help you protect your business from skimming.
- Keep track of each terminal’s location and serial number.
- Hire reputable folks to repair your terminals, if needed, and inspect them regularly.
- Train your employees to examine terminals for skimmers and suspicious behavior.
- Switch to EMV, which makes skimming much more difficult.
- If you think you’re the victim of skimming, call the police and don’t touch the terminal itself. You’ll also want to reach out to your processor and the credit card company involved.
For more tips on how to handle fraud, visit the security section of our blog.