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Cons & Scams Card Skimming
Cons & Scams Card Skimming
Card Skimming
What is card skimming?
'Card skimming' is the illegal copying of information from the magnetic strip of a credit or ATM card.
It is a more direct version of a phishing scam.
The scammers try to steal your details so they can access your accounts. Once scammers have skimmed your card, they can create a fake or 'cloned' card with your details on it. The scammer is then able to run up charges on your account.
Card skimming is also a way for scammers to steal your identity (your personal details) and use it to commit identity fraud. By stealing your personal details and account numbers the scammer may be able to borrow money or take out loans in your name.