Where there’s a will, there’s a way. Credit and debit card skimming still poses a major threat as criminals find new and innovative ways of stealing information of unsuspecting customers’ cards.
In the below video, security expert Ben Tedesco was on vacation with his family in Vienna, Austria, when he came across an ATM machine with a card skimmer attached to it.
A card skimmer basically reads the information from the magnetic strip on the debit or credit card being swiped. Once the data is collected (including the pin), the thief can then copy the stolen information onto a dummy card, which can then be used in any ATM to drain as much money as possible from the customer’s account.
Most people not paying attention may have missed the fact that the green card slot was actually a custom made replica of the original. With a little force, Tedesco was able to pry it off to show us the guts, revealing a magnetic strip reader, a battery, control board, and switch.
As a bit of a disclaimer, we are not 100% sure if this was just a promo stunt, given that Tedesco mentioned that he was a security expert working for Carbon Black, but it does not discredit his claim as devices like these are quite popular and common globally.
Chip and Pin technology has helped significantly reduce card skimming (even though that method is not foolproof either), but it appears that most card fraud occurs internationally where Chip and Pin technology has not been introduced just yet.
I guess it really does pay to be a bit paranoid sometimes.