Skimmed Debit Cards-Apparently New Technology Being Used

[Trayderjoe]

Well the thieves are getting even better at it. My wife had two of her cards and I had one compromised at a credit union ATM. We know exactly which credit union location (not near The Villages, but let's say it is aligned with "the happiest place on earth"). We know that it was this particular ATM as we don't usually use the same ATM, and in this case, one of the cards compromised was when she did a balance check. We do look at any ATM closely before using it and did not notice anything amiss, however there are apparently now "deep insert" skimmers that you would not notice. I just saw this link on a Yahoo article that discusses this point. Click here (https://www.yahoo.com/finance/news/watch-skimmers-atm-004452954.html) to read the article. Granted this was an outdoor kiosk, however it is disconcerting that a credit union ATM was able to be compromised. The thieves are getting bolder! In fact, all three cards had the initial withdrawals on the same day at another credit union ATM in Clermont.

Police reports were filed and other than the hassle, we were fortunate to suffer minimal financial damage. We have alerts set up to text us when our cards are used, so we were able to shut things down fairly quickly. We actually lowered the alert trigger points as the thieves are looking to grab smaller withdrawals but more frequently in order to get around any alerts (many people set the threshold level a little high). This is a step that if you don't have set up, YOU NEED TO DO IT NOW on your credit and debit cards. Not that any of us wants to have money stolen, but better to minimize that loss as much as possible.

I can honestly say that I was one of those who never thought it would happen to me, since I have always taken precautions including looking at the ATM and looking for the seals on gas station pumps, etc. I was remiss in forgetting that the thieves are staying a step ahead and adapting faster and faster. Until I read the article above, I was unaware of these new skimmers.

Oh by the way, carrying cash is great but you can also get compromised with some "old technology"-the pickpocket. You just need to strike the right balance for yourself.

[Sable99]

You have to be so careful these days. About 4-5 years ago my mother got a call from a bank's Fraud Department asking if she had moved to another state. No! It turns out someone said they misplaced their card (Mom's, that is) and wanted it sent to another state. Mom's card was not activiated and in a drawer in her file cabinet! The Fraud Department thought it was an inside job at the bank! This year, a guy from the same state they wanted the card sent to has opened over 12 checking accounts in Mom's name and our address! The Texas address shows up on her credit bureau report. My almost 93 year old mother googled the address and got his name, phone number and the make and vin number of his car! He is opening the checking accounts online so the financial institutions don't notice it for a few days. We usually find out the accounts are opened when Mom gets Welcome Packets!

By the way, a Lifelock agent suggested googling the phone numbers in letters from financial institutions to see if the institution is legitimate.

Also, the Lifelock agent suggested getting your credit bureau reports on a quarterly basis. They suggested alternating the three since they allow you one free report a year. For example, order Experian one month, four months later order EquiFax and four month later order Trans Union. Next year, do it again!