P&S Credit Union Wants to Keep You Safe from Scammers!

Spotting a skimmer.

1. Check for Unusual Features: Look closely at the card reader before inserting your card. If it looks bulky, or loose, or has any attachments that don’t seem to belong, it could be a skimmer.
2. Wiggle the Card Slot: Skimmers are often attached hastily and may feel loose or out of place. Give the card slot a wiggle, if it moves or seems off, avoid using it.
3. Look for Security Seals: Many gas stations and ATMs use security seals on card readers. If the seal is broken or missing, it may indicate that the machine has been tampered with.

Preventing Card skimming

1. Use Bank or Credit Union ATMs: Whenever possible, use ATMs located inside bank branches, which are typically better monitored and more secure than standalone ATMs.
2. Credit over Debit: Credit cards often provide better fraud protection than debit. If a credit card is skimmed, you can dispute the charges without losing immediate access to your funds.
3. Enable alerts: Set up transaction alerts with your bank or card issuer to receive real-time notifications of any activity on your account. This allows you to quickly spot and report unauthorized transactions.
4. Use Point-of-Sale Terminals with Chip Readers: Chip-enabled card readers offer more security than traditional magnetic strip readers. Where possible, use chip-based transactions rather than swiping your card.

What to Do If You Become a Victim of Card Skimming

1. Monitor Your Accounts Regularly: If you suspect you have become a victim of fraud, keep a close eye on your bank and credit card statements for any unauthorized transactions. Early detection is key to minimizing damage.
2. Report Immediately: If you notice suspicious activity on your account, report it to your bank or card issuer right away. Most institutions have fraud protection policies that limit your liability if you report the issue promptly.
3. Cancel and Replace Your Card: If your card has been skimmed, cancel it immediately and request a replacement. Your bank will also issue a new PIN if needed.
4. File a Police Report: In the event of financial loss, file a police report. This can provide documentation of the crime and may assist with the bank’s investigation.
5. Place a Fraud Alert on your Credit Report: if you suspect that your card information has been stolen, contact one of the major credit bureaus (Equifax, Experian, or TransUnion) to place a fraud alert on your credit report. This can help prevent further misuse of your information.

Card Skimming is a prevalent and sophisticated form of fraud that can cause serious financial harm. However, by staying vigilant, knowing the warning signs, the warning signs, and taking a few simple precautions, you can significantly reduce your risk of becoming a victim. Always be mindful of the card readers you use, regularly monitor your accounts, and report any suspicious activity immediately. A little caution goes a long way in keeping your financial information safe.