We’ve heard stories of card skimmers at outdoor ATM machines and even gas pumps ripping off consumers’ card information, but, admit it – – you always trusted card machines that are inside of retail establishments just a bit more, right?
Watch this clip and marvel at the fact that this caper is pulled off in just about three seconds, without anyone (except the surveillance camera) being the wiser.
Recently U.S. banks began distributing new chip-and-PIN credit and debit cards, hoping to increase credit card security and make this kind of heist harder to accomplish. However, thieves have already introduced new “shimming” devices to beat the security on chip-and-PIN credit and debit cards.
Credit card fraud has certainly taken over the number one spot in fraud attempts and losses. Consumers can be forgiven for electing to pull out their checkbooks rather than inserting their cards, exposing their banking information into an iffy machine. All payments have their pros and cons, and one can see fraudsters adapt with the new cards and chips. On the check side, security of OrboAnywhere image analysis and transaction analysis is a major improvement compared to traditional manual processes, providing driving prevention rates into the 95%+ range with high degrees of automation.
Count on checks hanging in there for careful consumers!