How Does Credit Card Skimming Work?
Credit card skimming is a type of credit card fraud where a crook, with the use of a skimmer (a small device mounted on top of the existing card scanner) & a pin hole camera or counterfeit keypad, steals card info, including your card number, CVV code and PIN.
Every bank transaction, whether online or at an ATM, is accompanied by a feeling of uneasiness. For some, it’s because of their bank numbers rolling down, but for most, it’s the risk of losing important personal data, and consequently their hard-earned money.
While an online transaction requires an OTP (one time password), along with the card pin to execute, the same is not the case with ATMs. Anyone with your card number and the pin could withdraw money from your account, leaving you a lot more broke than yesterday.
But how would a stranger obtain your credit card info? There are multiple ways, and credit card skimming is the most common.
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