All ATMs are vulnerable to card skimming. ATM skimming costs the United States an average of $8.5 billion per year, the majority of which is paid by cardholders and institutions. With 40 billion cash withdrawals worldwide from ATM machines, it’s time to learn what you can do to protect your money.
ATM skimming, also known as card skimming, is the act of installing a device on an ATM machine that records your card information and PIN number. The device can be as simple as a small wireless camera designed to capture the images of your card as well as you inputting your PIN. More sophisticated devices are installed over the card reader and read and transmit your information to a thief. In both cases a cloned bank card can be created.
Learn what you can do to protect yourself from ATM skimming. If you suspect your card has been compromised, contact your issuer immediately. Learn more about protecting your money from ATM skimmers from this infographic.