How to Detect and Prevent Card Skimmers: Tips for Ensuring Your Financial Security
Money | July 7, 2024, 4:04 p.m.
Card skimmers are increasingly targeting the financially vulnerable, costing consumers and banks around $1 billion annually. Debit card skimming has surged by 96% in the last year. Federal authorities have conducted crackdowns in Florida, preventing an estimated $1.3 million in losses. Reports of card skimming and EBT fraud have risen nationwide, with losses totaling millions for EBT recipients. Scammers use phishing tactics to obtain PIN numbers, as EBT cards are harder to skim. To protect against scams, it is recommended to check for loose card readers, change PIN numbers regularly, avoid phishing attempts, and monitor EBT account balances. Stay vigilant and report any suspicious activity to authorities immediately.