Credit Card Fraud: Ways to Trick Your Money Out

Nowadays credit card fraud is a widespread crime. Hundreds of the Americans face with this kind of fraud every day. It often seems that there is no way to prevent the crime and credit cardholders can do nothing to protect themselves against the fraud. So, let’s take a closer look at the tricks fraudsters use to get your personal data, in order to take steps to protect yourself.
Experts point out about 30 kinds of illegal means to trick the money out cardholders’ pockets. The most common operations are: the use of fake credit cards, electronic theft or theft through fake online shops, etc. This article is devoted to three most widespread illegal operations fraudsters use to thieve your personal data while you use an ATM.
Keyboard Nozzles. Fraudsters often use special devices installed on ATM keyboard in order to get your personal information. For instance, they can put special nozzles on keyboard that look like usual buttons but keep all the pressings, including PIN code. So, carefully examine ATM keyboards before to set your data info.
Lebanese Loops. Another fraud device is often called a Lebanese loop. A plastic envelope of a credit card size is placed into a chink of an ATM. The thing is when you try to withdraw money, ATM can’t read the data on the magnetic tape. But you can’t get your card back as the shape of envelope doesn’t let it out. Then a fraudster comes. He will probably tell you that the same happened to him yesterday. He offers you to dial your PIN code and then press Cancel button twice in order to get the card back. When it turns out that it doesn’t work, most of cardholders leave their cards in ATMs and go to the banks. When the cardholder goes away, the fraudster easily takes the card with the envelope out. And then he can easily to draw your money out of your card, as he has already had your PIN code.
Fake ATM. Some fraudsters manage to place fake ATMs in public places. It is rather expensive, but it brings fraudsters millions of dollars. When you try to use such an ATM, it will probably look like the ATM just doesn’t work. Fake ATMs do not give any money but they successfully read the data from credit cards. So, you may use such an ATM and get no money, but the other day you will discover that you withdrew all your money from the card but you can’t remember when.
It is hard to enumerate all the means the fraudsters use to get your personal data. So, except the methods mentioned above, there is also video observation of ATMs, interception of personal datum sent through ATMs to banks, and other. Machinery specialists do their best to protect cardholders from fraud. But credit card specialists still advise everyone to be careful, and try to learn as much as possible about credit card fraud. Consult financial experts who will answer all your credit card questions about fraud. You know, to prevent fraud is better than to look for ways to get your money back.

About the Author:
Adriana Redmon is a financial expert who consults people on personal finance management. She also writes articles for CreditCards.com.