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| A Warning about Card Fraud | |||
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| Protect your debit card information – protect your bank accounts! |
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Debit
Card “Skimming” is very real and has hit home. Please take the necessary
precautions when using your Debit Card and or Credit Card and protect
yourself against fraud. |
“Skimming” is a practice
whereby criminals copy the information contained on a card's magnetic
stripe and then use that information to reproduce counterfeit debit cards
and credit cards.
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| Here’s
how it works: |
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A
credit or debit card is handed over to pay for a bill at a restaurant
or retail shop, gas station etc. The card is first swiped through a small
illegal electronic gadget known as a “Skimmer”. The pager-sized device
can "read" and store data from the magnetic strips of up to
200 cards. The card is then swiped through a legitimate credit machine.
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The
“Skimmer” is given to a counterfeiter who downloads all the information
onto a computer and either sends it abroad or runs up a cloned copy of
the card. A cloned card is then distributed and out on the streets ready
for use. |
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| Protect
yourself: |
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| When
conducting any transaction, cardholders should use their hand or body
to shield their PIN. Check
your monthly statements; contact your financial institution if there
are any transactions that are not recognized.
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Do
not throw away card receipts; keep them to check against your statement. Always
be leery of a transaction if you are asked for your card a second time
because the first swipe “didn’t work”; ask for a receipt of the first
swipe. If you are uncomfortable about the security of your card, do not use it. |
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| If
you have any reason to believe the security of your card may have been compromised cancel your card right away. |
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Copyright
© 2004 Estonian (Toronto) Credit Union Limited. 958 Broadview Ave. Toronto ON M4K 2R6 (416)465-4659 estonian.info@estoniancu.com |
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