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A twist on this scheme is for crooks to place an “Out Of Order” sign on ATM and place a fake machine next to it. The fake machine has a card reader to collect account and PIN information but won’t actually dispense cash. The information collected is then transferred to a new card and used to steal cash from your account.
Another scheme involves inserting a thin clear plastic sleeve into ATM’s card reader. This prevents machine from being able to read your card and it will continually ask you to enter your PIN. The thief who installed sleeve is stationed nearby watching while PIN is input over and over. The victim finally gives up, thinking that machine has kept their card and leaves. The thief then retrieves card, enters memorized PIN, and takes out cash from victim’s account.
If you find anything suspicious about an ATM, report it to bank and to police immediately. Using a little caution with your ATM and credit cards will go a long way toward keeping you safe from ATM fraud.
© 2005, http://www.yourfreecreditreportnow.com Author: James H. Dimmitt James is editor of “To Your Credit” a FREE weekly newsletter focusing on managing your personal finances and credit. Subscribe and get a FREE copy of your credit report when you visit: http://www.yourfreecreditreportnow.com