Skimming

Skimming is a type of malicious cyber attack designed to steal payment information such as credit card numbers and other personal data. The act of skimming involves installing a device, such as a card reader or skimming device, into an otherwise legitimate transaction. The device reads the magnetic strip of the card and captures the sensitive information in an effort to gain access to funds.

Although skimming attacks were initially used on cash transactions, the prevalence and ease of use of payment cards have created huge profits for cyber criminals, allowing them to capitalize on the vulnerability of the payment card system. Skimming can also be done digitally as well, by advertising online or using malicious software to gather financial or personal information from the user’s device.

There are a few key indicators that can alert to a potential skimming attack. Most notably, a card reader or suspicious device at the point of sale. At an ATM, if the card slot looks tampered with, appears to have an additional electronic device attached, or is not the same as other machines, it may be a red flag indicating a potential skimming device.

As the number of digital transactions grows, skimming is becoming increasingly more common and can be difficult to detect and identify. However, knowledge of the potential risks and staying vigilant at the point of transaction can help to reduce the chances of a malicious attack.