You may get a surprise to see your Credit Card statement with charges and cash withdrawal that you did not make. You may wonder whether the Credit Card company has made a mistake since your card is always with you and no other person uses it. Well, you could be a victim of Credit Card skimming.
Credit Card skimming is a type of Credit Card theft. In this case, scam artists use a device to steal your card information when you use the card for a legitimate offline transaction. Thieves can place this device on any Credit Card reader to capture your details that are present on the magnetic strip of your card. Sometimes, Credit Card skimmer rings also recruit hotel, restaurant, retail staff to use a handheld device to skim the details when you hand over your card to make payments.
Using the stolen data, thieves will clone the card to create a counterfeit Credit Card that they can use when and as they want. They can use your card to make a purchase offline or online, or they may sell your credentials on the Dark net. You may not even realise that you’re a victim of Credit Card skimming unless you check your card statement and notice charges that you did not make or your card gets declined during a transaction.
If you think you are a victim of Credit Card skimming, you should immediately get in touch with your card issuer and let them know that your card details were skimmed. Even the Best Credit Cards in India can be skimmed. So, don’t be complacent. You should report the skimming even if you don’t see any fraudulent charge on your card. When you do this, the card issuer will block your card so that you or anyone else will not be able to use it.
Also, inform the card issuer where the skimmer is installed. Provide the location and address of the ATM, so that the company can immediately take measures to safeguard other cardholders. If you find any fraudulent charges on your Credit Card, it also pays to report the crime to the cyber crime police in your city. The police will try to catch the culprit red-handed.
Credit Card skimmers are cleverly designed to onto a Credit Card reader, be a handheld reader or an ATM. Hence, you may not be able to pinpoint it unless you are looking for the device.
Here are some ways to identify a skimmer:
Falling victim to Credit Card fraud is not pleasant. However, with people using Credit Cards more often post-demonetisation, criminals have become more sophisticated. They are resorting to skimming. If you are a victim, inform the card issuer about the skimming or suspected skimming immediately. Just remember that even the Top Credit Cards, with state-of-the-art protection, can be skimmed using RFID-enabled skimming devices.
You may get a surprise to see your Credit Card statement with charges and cash withdrawal that you did not make. You may wonder whether the Credit Card company has made a mistake since your card is always with you and no other person uses it. Well, you could be a victim of Credit Card skimming.
Credit Card skimming is a type of Credit Card theft. In this case, scam artists use a device to steal your card information when you use the card for a legitimate offline transaction. Thieves can place this device on any Credit Card reader to capture your details that are present on the magnetic strip of your card. Sometimes, Credit Card skimmer rings also recruit hotel, restaurant, retail staff to use a handheld device to skim the details when you hand over your card to make payments.
Using the stolen data, thieves will clone the card to create a counterfeit Credit Card that they can use when and as they want. They can use your card to make a purchase offline or online, or they may sell your credentials on the Dark net. You may not even realise that you’re a victim of Credit Card skimming unless you check your card statement and notice charges that you did not make or your card gets declined during a transaction.
If you think you are a victim of Credit Card skimming, you should immediately get in touch with your card issuer and let them know that your card details were skimmed. Even the best Credit Cards in India can be skimmed. So, don’t be complacent. You should report the skimming even if you don’t see any fraudulent charge on your card. When you do this, the card issuer will block your card so that you or anyone else will not be able to use it.
Also, inform the card issuer where the skimmer is installed. Provide the location and address of the ATM, so that the company can immediately take measures to safeguard other cardholders. If you find any fraudulent charges on your Credit Card, it also pays to report the crime to the cyber crime police in your city. The police will try to catch the culprit red-handed.
Credit Card skimmers are cleverly designed to onto a Credit Card reader, be a handheld reader or an ATM. Hence, you may not be able to pinpoint it unless you are looking for the device.
Here are some ways to identify a skimmer:
Falling victim to Credit Card fraud is not pleasant. However, with people using Credit Cards more often post-demonetisation, criminals have become more sophisticated. They are resorting to skimming. If you are a victim, inform the card issuer about the skimming or suspected skimming immediately. Just remember that even the top Credit Cards, with state-of-the-art protection, can be skimmed using RFID-enabled skimming devices.
Also Read: 7 Things That Can Have an Impact on Your Credit Score
Reshma Rawat is a passionate writer with a decade of experience in writing for a variety of domains (finance, technology, lifestyle, e-commerce, real estate, etc.). Currently, she is working as Assistant Manager - Content @MyMoneyMantra and writes blogs & webpages on financial products (loans, credit cards, insurance, government financial policies, mutual funds, etc.).
Director- MyMoneyMantra FinTech| A senior retail and commercial banking professional, adept at handling Business Development, Sales Planning & Growth, Product Strategy, Marketing Operations and Client advisory services phygitally.
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