ATM Skimming: What it is and how to protect yourself

With billions of dollars stolen each year from ATM skimming, this is a serious and prevalent problem. And, it isn't only at ATMs where this criminal behavior takes place - but also gas pumps and other point-of-sale devices where you swipe your card. Thieves are sneaky - it's critical to be aware of the insidious ways they take off with your card number, PIN and your money.

What is skimming exactly? According to BusinessDictionary.com, it's when, "an ATM is compromised by a skimming device , a card reader which can be disguised to look like a part of the machine ." This fake card reader snaps up all the account information stored electronically on the magnetic stripe. And, because the device is inserted into the card reader, most consumers never even notice the difference. One giveaway to look out for is that with this illegal device, the little light you usually see coming from the slot is much dimmer than usual.

So, obtaining your card number is bad enough, but to complete the job, crooks need your PIN as well. They do this by installing tiny cameras in the hardware above the ATM screen, in brochures located to the side - even in fake keypads. Look closely at unusual or out-of-place seeming objects affixed to the ATM. If the keypad seems off-color, this could be a warning sign.

At Tech CU, the safety and security of your accounts is our top priority. This includes frequently checking our ATMs for foreign devices (and working with our affiliates). We also employ ATM cameras for round-the-clock surveillance.

Some ways to protect yourself:

• Never give your PIN to anyone. Don't write it down on your card.
• When you do punch your PIN into a keypad, cover it up with your other hand.
• Be wary of someone who tries to "help" you at an ATM.
• Take a good look at an ATM before using it. If something seems strange or "off" about it, don't use it and report it to the ATM owner
• Check your statements regularly to make sure there are no unusual withdrawals.

Share your thoughts and advice on how to best protect yourself from skimming.