(FOX40.COM) — Authorities in Northern California alerted the public about a fraud that employs a gadget to pilfer financial records from unsuspecting individuals who utilize their credit or debit cards.
This fraudulent activity, referred to as “skimming,” employs covert technology that might go unnoticed by ATM users, as per the Woodland Police Department.
Skimming operation explained
To carry out the fraud, the scammer attaches a petite device (skimmer) on top of an ATM card chute. The skimmer, which mirrors a genuine card reader, can capture and retain card information from the card’s magnetic strip.
“Swindlers can attach skimmers onto gas station pumps, or dishonest employees can keep a skimmer hidden away from the eyes of clients, according to WPD. “Once the card has been inserted through the skimmer, the data gets recorded and the scammer has the ability to sell the information through an affiliate or online.”
Law enforcement in Northern California cautions about a ‘highly effective’ Bitcoin fraud
The authorities further stated, “fraudsters enjoy a lavish shopping spree with a replicated version of the victim’s credit or debit card, and the card owners remain oblivious of the deceit until they receive a statement containing purchases they didn’t authorize.”
Preventing skimming
The Federal Bureau of Investigation cautioned that skimming annually costs monetary institutions and consumers upward of $1 billion, however, there are methods to…
