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The Latest Scams & Security Threats

Skimming and Shimming Debit and Credit Cards

Skimming has been around for a while but it appears to be growing in popularity again. And, now shimming is the latest scam. Skimmers read magnetic strips and shimmers read card chips.  It is a crime where fraudsters install a device in a credit card slot to collect card data which they use to produce fake cards to withdraw funds. They target ATMs and gas stations mainly.

Protect yourself

  • Look closely at the credit card slot area before you use it. If something seems unusual or out of place, don’t use it and report it right away.
  • Always shield the PIN pad area with your other hand when entering your PIN and it helps to change your PIN once in a while.
  • Keep a close eye on your account information and statements regularly and report any unauthorized transactions to your financial institution immediately.

Online and Mobile Banking is an easy and secure way to view your accounts at any time and as often as you like. You may want to set up low balance alerts on your accounts to identify unusual withdrawals.

Buying Gift Cards Online 

Do you visit eBay and other online auction sites? There has been an increase of gift cards sold via the Internet. Be careful before you throw one of these cards into your “shopping cart.” It could be part of a new cyber scam. Security experts are calling it cyber money laundering, or e-fencing – another way thieves are converting stolen data into cash.

Here’s how it works: A thief steals someone’s credit card number and purchases a gift card online. The thief turns around and sells it to the highest bidder on an online auction or for a discount at a so-called gift card exchange website. Though it’s tempting to take advantage of this so-called bargain, the best bet, according to the Federal Trade Commission, is to purchase gift cards from sources you know and trust, and to avoid buying gift cards from online auction sites.

Website Fraud

Do you visit eBay and other online auction sites? There has been an increase of gift cards sold via the Internet. Be careful before you throw one of these cards into your “shopping cart.” It could be part of a new cyber scam. Security experts are calling it cyber money laundering, or e-fencing – another way thieves are converting stolen data into cash.

Here’s how it works: A thief steals someone’s credit card number and purchases a gift card online. The thief turns around and sells it to the highest bidder on an online auction or for a discount at a so-called gift card exchange website. Though it’s tempting to take advantage of this so-called bargain, the best bet, according to the Federal Trade Commission, is to purchase gift cards from sources you know and trust, and to avoid buying gift cards from online auction sites.