Fraud fighters have spotted a new form of ATM skimming device that is so small it's easy for the human eye to miss.
The European ATM Security Team, a nonprofit organization that collects information on ATM fraud, reported this month that one of its country member representatives had discovered these so-called mini-skimmers. The fraudsters behind them are likely to send the stolen card data to the United States, where the information is easier to use since the EMV chip-and-PIN card security standard has not been adopted here. (Old-fashioned magnetic stripe cards are much simpler to create than newfangled EMV cards.)
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access