Ever heard of skimming?

There is a new way to rip people off out there that isn't new at all. I've been telling people for years about the scam of putting up a fake ATM where people put their card in and punch in their PIN, but just get an error screen. The machine just records your card info and PIN in the computer and the fraudster picks it up later. Well, there is another type of credit card fraud that happens even more regularly because it is so much easier to commit. I give you Credit Card Skimming.

Basically a device is placed on an ATM that records your card information at the same time the ATM records it. There is also a small camera placed nearby that records you typing in your PIN. This information is then coded onto fake cards and your accounts are cleaned out. Pretty scary, huh? The scariest thing is that anybody can buy what they need to pull this scam off. It isn't like the technology to read and write on magnetic strips is controlled or something. How do you think membership cards with magnetic stripes are coded? This stuff is available to anyone with a couple hundred bucks and a desire to rip you off. I'm just putting it out there so you are aware and check out the ATMs you use before you use them. Personally I don't use ATMs partially for this very reason. In fact, if I can demagnetize my credit cards so they don't work on those at all, then I do it. I've got a 16 lb speaker magnet that works great for stuff like that.