ATM Card Fraud
ATM scams are becoming increasingly widespread because criminals are employing hi-tech methods to hack into your bank accounts
 ATM fraud is on the rise, law enforcement officials say, because thieves are becoming more and more sophisticated. Criminals have become very clever
at finding new ways to access your funds so consumers need to pay careful attention to their bank statements in case there are unauthorized withdrawls
because it's more and more likely that someone has access to your bank account information.
How Criminals Steal Your Money
Methods used by criminals to gain entry to your money accounts include hacking into bank databases, phishing scams and unsolicited emails, the breaching of
retailer computer systems and card skimming devices placed on ATM machines and gas pumps. There isn't a lot you can do about thieves gaining illegal
entry into computer systems and databases containing your financial information besides vigilance and reporting unusual activity but some of the other
methods criminals use to break into your bank account are directed right at the consumer. In many cases people are handing crooks the keys to their
accounts. Knowing something about the methods used might save consumers millions of dollars a year.
Magnetic Card skimmers steal your data
Some tech savvy thieves are placing ATM card skimming devices over the real card readers. They will also place a tiny camera somewhere on the ATM
machine so that the information of the screen is recorded as well as your hand punching in your PIN number. All of this is often transmitted to the
thieves who are often sitting in a nearby car. They now have everything they need to empty your account of its funds. This kind of scam has been
reported in just about every major city in the world and people lose millions of dollars a year this way. Some of the card skimmers and cameras may
be easy to detect but some of them take a trained eye and are only discovered when the ATM is serviced by a professional. If you notice anything out
of the ordinary when using an ATM to withraw funds you might consider trying another machine and report your suspicions to the authorities.
Bandit ATM machines
Card skimming devices aren't your only worry when it comes to ATM machines. Some clever scam artists have gone so far as to purchase ATM machines
of their own which they installed and used to collect account information. Successfully detecting a skimming device may be tough but identifying
a bandit ATM machine is next to impossible. Your best chance at avoiding this kind of cash machine is by never using independent ATMs which is
easier said than done. In some areas there might be a lot more privately owned ATMs than bank machines making it next to impossible to rely on
only official bank-operated ATM machines. You should use your best judgement and, as always, keep an eye on your bank statements. There is probably
no way to completely safeguard your account information but vigilance and quick action when suspicious activity is detected could save you a bundle.
Phishing scams and unsolicited emails
Phishing is probably the easiest methiod for getting into your account and is so widespread that I receive several phishing emails every day. Some
of them are quite clever but they all rely on poor judgment by the recipient to be effective. Never click a link in an email to go to your bank, credit
union, eBay account or anywhere else to log in if it's related to your finances. Always go to these websites directly from your bookmark or by typing
in the address yourself. If even that worries you then give the bank a call and ask them over the phone. Following this simple rule will protect you
from getting "phished" by a criminal. Every time you delete an email requesting that you click a link to enter your credentials on a banking website
foils a phishing scam. This one is up to you.
More Ways to Protect Your Bank Accounts
How to Protect Your Bank Account
How to Bank Online Safely
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