affecting people worldwide, but one of the most common is ATM fraud, also known as ATM “skimming.” Skimming is a form of cyber attack that affects individual people as well as banks. While banks also have to worry about a technique called “jackpotting” which forces an ATM to dispense all the cash it contains, this technique is difficult to pull off and requires the crook to break into the machine and install malware. Skimming is much more likely to affect the average business or person, so it’s important to understand what it is and how to protect against ATM fraud. Skimming explained Put simply, ATM skimming is a form of theft that uses a small device, known as a skimmer, installed on an ATM to steal card information. When you swipe your card at a compromised ATM or gas pump, a malicious device installed in the card reader pulls your information from the magnetic strip. Installing devices like these is much easier for criminals than the invasive methods jackpotting requires. The US adopted chip cards in an effort to combat this, but not all machines have been updated for this technology, and it doesn’t become required by law until 2020…. Read full this story
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