Debit and Credit Card Skimming

Protect Your Cash by Protecting Your PIN

Over 84% of Canadian adults have at least 1 debit card and at 74% have at least 1 credit card.  Despite the convenience and popularity of these cards, there is a risk of fraud. It is important to protect your cards, just as you would cash or cheques. Some of the risks associated with debit/credit card fraud are the same as carrying around your account numbers, so protect your card information in your wallet, online and over the phone.

However, there is another threat to card users that is unique - it's called "skimming." Skimming occurs when thieves set up a device that captures the magnetic stripe and keypad information from ATM machines, gas pumps, restaurants, and retail stores. By doing the following, your information will be protected and you will reduce the risk of having your information stolen.

1. Cover the PIN machine when you are entering your code.  This will help block a camera’s or other person’s view of your PIN number.
2. Never let the card out of your sight.  Watch as the retail person swipes it to make sure they only use the store cash register.
3. Check your bank statements immediately upon receipt in the mail. Make sure all payments are yours.
4. Regularly check your account balance and transactions, by utilizing online banking and telephone banking.
5. Contact your financial institution immediately if your card is lost, stolen or subject to fraudulent use.
6. Keep a record of card numbers, PINs, expiration dates and 1-800 numbers so you can contact the issuing financial institution easily in case of theft.
7. Memorize your PIN number. Do not use your birth date, address, phone number or social security number. Never store your PIN with your card, and do not make it available to others.
8. Keep your receipts. You'll need them to check your statement. If they have your account number on them, tear up or shred receipts before throwing them away.
9. Mark through any blank spaces on debit slips, including the tip line at restaurants, so the total amount cannot be changed.
10. Know your limits. Many issuers limit daily purchases and withdrawals for your protection.
11. Do not use an ATM if it looks suspicious, it could be a skimming device.
12. Be wary of those trying to help you, especially when an ATM "eats" your card, they may be trying to steal your card number and PIN.
13. Do not give your PIN number to anyone over the phone, often thieves steal the cards and then call the victim for their PIN, sometimes claiming to be law enforcement or the issuing bank. 

By protecting your cards, you will be protecting yourself.  Keep your information safe as you use your cards more this Holiday Season.  Jerry