Tampering with a credit/debit card reader takes just a few minutes and can be done with an inexpensive device that’s easily available for purchase at online retailers. There are lots of other ways your information can be skimmed, too.
Thankfully, there are steps you can take to prevent and recognize debit card fraud before it happens. Read on for all you need to know about debit card fraud.
Ways your card can be compromised
1. It’s physically lifted from your wallet.
2. A restaurant or bar server skims it while it’s in their possession.
3. A terminal you use is compromised.
4. An online breach puts your information on the black market.
5. Your computer has been hacked.
Signs a gas pump terminal has been compromised (most common method of card skimming)
1. The security seal has been voided. When the pump is safe to use, the label has a red, blue or black background. A breached seal shows the words “Void Open” in white.
2. The card reader is too big for the machine.
3. The pin pad looks newer than the rest of the machine.
4. The pin pad looks raised.
5. The credit/debit card reader is not secured in place. It should fit tightly and not be easily rattled.
Ways to protect yourself against debit card fraud
1. Check all card readers for signs of tampering before paying.
2. Never share your debit card information online unless you’re absolutely sure the website is authentic and the company is trustworthy.
3. Check your monthly credit union statements for suspicious activity.
4. Use cash when patronizing a business in an unfamiliar area.
5. Don’t download attachments from unknown sources.
At MCCU, we’ve always got your back! If you suspect your MCCU Debit card was compromised, you should take the following steps:
- Call us immediately if your card is lost or stolen during our business hours.
- If your card is lost or stolen after hours or on a weekend, block your card online using online banking or with mobile banking. If you are not yet enrolled in online banking, click here to get started.
- If your card is part of a known breach, we will notify you and block your card. Once your card is blocked, we will re-issue a new card for you, or you can visit one of our branches to get a new card right away. This can only be done at a MCCU branch, and not at any of our Shared Branch locations.
- We will notify you immediately if any fraud is discovered on your MCCU account.
Share this information with your friends and family to ensure a fraud-free holiday season!
« Return to "Matadors Money Matters Blog"