Skimmers at ATMs have been a lucrative tool for scammers in recent years.   Skimmers are small electronic devices that are easily installed by an identity thief on ATMs and other card reading devices, such as at gas pumps.  The skimmer steals all of the information from the credit card or debit card which then permits the identity thief to access that information to access the victim’s bank account when the skimmer is used on a debit card attached to a bank account.  Each skimmer can hold information on as many as 2,400 cards.  Citigroup just announced that it is working with ATM manufacturer Diebold on a new ATM that would scan your iris to authorize the ATM to provide a cash amount that you select through the bank’s app on your smartphone.  Thus you never have to swipe a card.  Other banks including J.P. Morgan and Bank of America have also been testing cardless ATMs, as well.  Certainly we will not be seeing a wholesale changeover from the familiar card swiping ATMs in the near future, but the use of biometrics, such as iris scanners present a promising alternative to ATMs that are easily hackable.

TIPS

For now, however, you should always be on the look out for skimmers at any ATM you use.  Look for signs of tampering on any machine through which you swipe your credit card or debit card.  If the card inserting mechanism appears loose or in any other way tampered, don’t use it.   Debit cards, which are used at ATMs when compromised through a skimmer put the customers at risk of having the bank accounts tied to their cards entirely emptied if the theft is not reported  promptly.   Skimmers at ATMs are often coupled with a thin, clear electronic device that goes on top of the keyboard to capture the victim’s PIN to enable the identity thief to access the account of the victim whose account number was captured through the skimmer.  Other times there will be cameras installed by the scammers to record the person putting their PIN into the key pad.  Therefore it is a good idea to shield the keypad with your hand while you put in your PIN.