Protect Yourself from Skimming: What You Need to Know

In today’s digital landscape, fraud is an ever-present concern for both consumers and businesses. Skimming, a form of fraud that involves stealing card information using physical or digital means, is a particular risk. Whether you’re using your card at the grocery store, an ATM, or shopping online, being aware of the signs of a skimmer can help protect your financial information.

What is Skimming?

A skimmer is a device or piece of software that allows criminals to steal card information, which they then use to create fraudulent transactions. This process is called skimming. Skimming can happen in various settings, from physical locations like ATMs to online shopping environments.

Types of Skimming

• Physical Skimmers: These are placed on card readers at gas stations, ATMs, or retail checkout lanes. They often look like regular parts of the machine but are actually designed to capture your card’s details. Physical skimmers can be hard to spot if you don’t know what to look for.
• eSkimmers (Digital Skimmers):These are malware programs that are inserted into e-commerce websites to steal card information during online transactions.

Spotting Physical Skimmers: Know the Signs

Detecting a skimmer before using a compromised machine can save you a lot of headaches. Here’s what to look out for:

• Loose or oversized keypads: If the keypad feels different from what you’re used to—larger, looser, or difficult to press—this may be a sign of a tampered machine.
• Difficulty inserting your card: If the card slot feels tighter than usual, or if your card doesn’t go in smoothly, this could be a red flag. A skimmer may have been placed over the original card reader.
• Device looks different from others: ATMs, gas station pumps, and grocery store terminals typically have consistent designs. If a terminal looks out of place compared to others, that might indicate that a skimmer has been installed.

What to Do if You Suspect a Physical Skimmer

If you’re unsure, gently wiggle the card reader or keypad to see if anything seems loose or detachable. Covering the keypad with your hand while entering your PIN is also a good practice, as some criminals use cameras to capture your code.

In general, always opt for “tap to pay” when it’s an option. This helps prevent your card’s magnetic strip data from being compromised.

eSkimmers: How to Avoid Online Fraud

As e-commerce has grown, so has the use of eSkimmers—malicious code that steals payment details during online transactions. Here’s how to protect yourself:

• Stick to trusted websites: Only shop at reputable online stores and always verify that the website’s URL begins with “https,” indicating a secure connection.
• Use secure payment options: Digital wallets like Apple Pay and Google Pay offer added layers of security, as they use tokenization instead of transferring your actual card details.
• Be cautious with public Wi-Fi: Avoid making financial transactions on public or unsecured Wi-Fi networks, as these can be vulnerable to hacking.

Proactive Steps for Consumers

Beyond learning how to identify skimmers, there are proactive measures you can take to protect your financial information.

• Monitor your accounts regularly: Keep an eye on your bank and credit card statements for any unfamiliar transactions. Use online and mobile banking to get the most up-to-date information on your accounts. Consider enabling real-time alerts that notify you of any suspicious activity.
• Enable two-factor authentication: Most banks require an extra layer of security when logging in, but if yours doesn’t, be sure to add two-factor authentication. Add two-factor authentication to any online shopping accounts or anywhere your card information is saved, as well. This makes it more difficult for hackers to access your information.
• Use bank security tools: Your bank likely offers a range of security features designed to protect you from fraud, such as multi-factor authentication, fraud alerts, ID theft protection, and secure account recovery options. Take advantage of these tools.

What to Do If You’re a Victim of Fraud

If you notice unauthorized transactions or suspect that your card information has been compromised, it’s crucial to act quickly.

• Contact your bank immediately: Notify your bank or card issuer of the suspicious activity. Most banks will freeze your account and issue you a new card if fraud is suspected.
• File a fraud report: Depending on the extent of the fraud, you may need to file a police report or notify a consumer protection agency. This step is particularly important if your identity has been stolen.
• Update passwords and account information: If your online banking or shopping account has been compromised, update your passwords and security questions to prevent further access.

Common Myths about Skimming and Fraud

Many consumers believe certain myths about skimming and fraud that can lead to a false sense of security. Below are some of the most common misconceptions:

• “Skimming only happens at ATMs.”: While ATMs are common targets for skimmers, they can be installed anywhere card readers are used, including gas stations, grocery store check-out lanes, and even restaurants.
• “Online shopping is safe as long as I use a major retailer.”: Although major retailers typically have more robust security systems in place, even large retailers can be targeted by cybercriminals using eSkimmers. Always check for security signs and use trusted payment methods.
• “I’ll know right away if I’ve been skimmed.”: Fraudulent charges often appear small or delayed, making them harder to detect unless you’re regularly monitoring your account activity.

Our Commitment to Your Security

We take your security seriously and are committed to helping you stay safe. Here are some ways Community Banks of Colorado works to prevent fraud:

• Regularly updating security features: We invest in the latest technology to ensure our systems are secure and your information is protected.
• Fraud alerts and monitoring: Our systems monitor your accounts for unusual activity. If something looks out of place, we’ll notify you immediately.
• Customer education: By informing our customers of potential risks and how to spot them, we work together to prevent fraud.
• ID Protect Plus: We are committed to protecting our clients’ personal information and accounts from being used in an authorized manor. We also partner with Deluxe® Prevent SM to offer you peace of mind.
• Dedicated fraud response team: If you suspect fraudulent activity, our fraud response team is available to assist you in securing your accounts and filing a report.
• Secure communication channels: We provide multiple secure methods for communicating with us about your account, including in-person visits, calling our Client Services and Solutions team, and the bank’s secure online and mobile platforms.

And remember, we will never ask you for your personal or financial information via unsolicited calls, texts, or emails. If you receive such a request, it is likely a phishing attempt.

Stay Vigilant and Stay Secure

Fraud is constantly evolving, but so are the methods to combat it. By staying informed and proactive, you can reduce the chances of becoming a victim of skimming and other forms of fraud. Remember to always trust your instincts—if something feels off, it’s better to be cautious.

As your trusted financial partner, we are here to help you stay secure. If you ever suspect that your information has been compromised, don’t hesitate to contact us. We will guide you through the necessary steps to protect your financial well-being.