It is sometimes difficult to believe that the small communities on Vancouver Island would be hot targets for credit and debit card fraud, but the truth is that anywhere credit and debit cards can be used, the reality of such fraud exists.
"It is estimated that there are over two million ATM machines around the world, any many more point-of-sale (POS)terminals," says Rosalind Scott, Executive Director of BBB Vancouver Island. "If we stop to think about how often we use credit and debit cards to pay for purchases, we suddenly begin to realize just how accessible our credit and debit card information has become."
“Debit and credit card thieves employ numerous tactics to steal your card information," says Detective Rick Anthony ofthe Victoria Police Department. "Sometimes they use low tech tactics like merely looking over your shoulder while you enter your PIN number, other times they use high tech devices to steal your card information."
Over the past year many people across Vancouver Island have found their debit and credit card information compromised. While we tend to think of debit and credit card thieves as faceless strangers in many cases such theft occurs by people we know such as family members or dishonest employees at places we do business.
So how can you protect yourself from becoming avictim of debit and credit card fraud? While it is impossible to prevent it, keep in mind the following activities that will help you in recognizing the patterns of debit and credit card fraud.
1)Blocking & Trapping Devices: Blocking and trapping devices are often inserted into ATM devices to steal your card directly from the machine or to trap the money you withdraw from your account. In both cases the thief is often lurking nearby watching you enter your PIN and/or waiting for you to move away from the machine in order to steal your card or your cash.
2)Card Skimming, Overlay and Fake Pin Pad Devices: Card skimming occurs when a device external to the ATM is used to capture your account information such as your PIN number, account number and balance. Fake ATM machines, fake pin pads and other overlay devices (ie. a dishonest clerk makes an extra carbon imprint of your credit card) are more and more commonly being used to steal credit and debit card data. Such devices can often store hundreds of debit and credit card data before being removed by thieves.
3)Shoulder Surfing & Video Cameras: Video cameras and PIN spies often lurk near ATM and POS terminals recording your PIN and account information. Once thieves have your PIN and account information thieves will make magnetic strips to reproduce your card.
4)Dumpster and Mailbox Diving: Some debit and credit card information is stolen when thieves sift through your garbage or recycling looking for discarded receipts, carbon copies or banking statements. Othertimes thieves will steal you mail if they recognize that it contains a banking statement.
5)Lost or Stolen Wallets: A significant amount of credit and debit card fraud still occurs the old fashion way, when you lose your wallet orsomeone steals your cards from it. In the majority of circumstances the theft often occurs by someone you know or who has access to your personal space (i.e.family, friend, housekeeper etc.).
6)Online Transactions: An ever-growing number of people are making purchases via the web, exposing their credit and debit card information to cybercriminals. Most online credit and debit card fraud does not occur via securesites or online payment services, but when account information is transferred via email, unsecured websites or entered on a computer in which spyware isinstalled.
Recognizing Patterns of Fraud
While it can be difficult to identify situations in which your debit and credit cards are being compromised there are a few red flags to watch for:
- Watch for odd changes to regularly used ATM machines, POS terminals and PIN pads;
- Do not use ATM's or POS terminals with signs taped or glued to them;
- Be suspicious of people lurking around bank machines and cash registers;
- Be wary of situations in which someone insists on holding the PIN pad for you;
- Immediately alert your bank if your card or money cannot be retrieved from an ATM;
- When making online purchases be skeptical of people trying to lure you away from payment via a secured sites.
Tips to Protect Yourself
- Keep an eye on your debit and credit card at all times during a transaction;
- Always use ATM machines that are located inside a bank, rather than outside on the street;
- Never let a stranger help you, by giving them your PIN number if a machine does not appear to be working;
- Shred all your banking and financial documents;
- Keep banking statements carefully stored and locked away;
- Keep your wallet and credit and debit cards in a secure location;
- Never share you PIN number with people you know;
- Empty your mailbox immediately after mail arrives, and pay attention to normal bank statement delivery days;
- Check your bank statements regularly and compare them with your receipts.
For more information on Fraud Prevention Month or for updates on fraud related topics this month visit www.vi.bbb.org/fraud-prevention-monthor the Canadian Anti-Fraud Centre at www.phonebusters.com.
For more informationabout the BBB visit www.vi.bbb.org.
For more information about the Victoria Police Department visit www.vicpd.ca.