Debit card skimming scam - Saab General Bulletin Board - Saabnet.com
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Debit card skimming scam
Posted by TimBrown (more from TimBrown) on Thu, 8 Mar 2007 09:18:44
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The posters who discussed the debit card theft a while back may be interested in today's WSJ article about the issue. Thieves do a switch on the checkout card swiper and put in a unit that banks the #'s and passwords but puts thru the charges, then comes back a week later, switches back and collects their data. They sell the data on the internet. Said one such caper yielded $100,000 in less than a week. Other pieces have talked about private cash machines that do the same thing. apparentlky the mag strip readers can be bought in any electronic store in Malaysia.
Article said, use credit cards, which are watched more closely by the banks, change passwords often, watch your account.
Problem wiht the debit card is that if someone wipes out your checking account and you need to wait months to get the $ back... Also the credit card consumer protection (loss limits) are imposed by law, unlike any such protection for debit cards.
posted by 68.161.223...
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