Police in Plano, Texas have discovered at least 50 cases of gas station credit card fraud. Apparently, thieves have installed credit card readers called “skimmers” at the gas pumps.
Do you think you’re too smart to fall for this kind of attack? Do a little Internet research. Use your favorite search engine, and search on terms “cheap credit card reader.” Try “small credit card reader.” Look over some of the products advertised and available for purchase.
You’ll find that skimmers are easily available to criminals. They can be as small as a matchbox. They can be purchased for less than $15. They are virtually undetectable; even if you knew there was a skimmer at the gas pump, you’d have a hard time finding it.
For a little extra money, there are card skimmers available that actually send the stolen credit card information immediately to an accomplice’s cell phone. For a couple hundred dollars, you can buy a card reader than even writes the stolen information to blank credit cards. Several of the cards advertised on the Internet include free blank cards, making it even easier for identity thieves to start up their new businesses.
When you consider that a credit card reader/writer can be purchased (with free blank cards) for as little as $200, it’s easy to see how lucrative this sort of identity theft can be. In just a few hours, a skimmer can record and store information from 1,000 accounts. If each of those accounts had a modest $2,000 of available credit, the thief would have instant access to $2 million of credit!
Because it would be difficult to spend that much money in a short period of time, that sort of credit card “harvest” is usually sold off on the Internet in batches of 10 or 20 at a time, sometimes for as little as $150. Even at that price, the industrious thief would still make $150,000 with his meager investment of $200.
Visit LifeLock.com to learn more about their identity theft protection services. Enroll using the LifeLock promotional code Defense and get the best price available.
I saw someone on ebay selling those things. I wonder why they are legal. I guess they have some practical use but why can’t devices like that be regulated and only sold to businesses that are in an industry that need them? I guess that’s just not the way it works.
I quit carrying cash cause i was afraid of getting mugged. Nobody takes checks anymore. can’t use my card to get gas. Now what!
had never heard of this before, but you sold me! I need more protection from ID theft!
Your info is very valuable for me. Thank you very much. Somone stole my identity in 2003 and I’m still fighting it. You have valuable tips and I think I will get Life Lock after reading your posts,
Hi,
I have already seen the LifeLock speakers and was blown away!
Thanks
Thanks for article. Everytime like to read you.
Most people think that as adults get older, the numbers increase. The opposite is true. There are maybe some risks particular to oldsters like me, but the overall risk goes down–at least that’s what the police told me when I had to file my ID theft report with them!
These skimmers are practically invisible, hence they can be more dangerous. After reading this always check for loose parts on ATMs.