Are you a victim of ATM skimming? Here is how you can be safe

New Delhi, July 25: The Goa police today arrested two Romanian nationals for allegedly trying to steal money by installing a skimming device in an ATM. This is a great cause of concern as such incidents are on the rise.

ATM skimming has been rampant since 2008 and in that year more than 1 billion US dollars had been stolen in ATM related incident. While many use the conventional way of stealing from an ATM by breaking it open, others used a more quieter method.

ATM skimming is a type of fraud which occurs when an ATM is compromised by a skimming device, a card reader which can be disguised to look like a part of the machine. The card reader saves the users' card number and pin code, which is then replicated into a counterfeit copy for theft.

Skimming is similar to identity theft for debit card. Hidden electronics are used to steal personal information stored on your card and record your PIN number to access cash from your bank.

Skimming takes two components to work. First part is a card reader placed over the ATM;s real card slot. When you slide your card into the ATM, you are unknowingly sliding it in through the counterfeit reader. This scans and stores all the information on the magnetic strip.

The next step would be to steal your PIN number. Here is where the cameras come into the picture. Tiny spy cameras are positioned to get a clear view of the keypad and record the ATM PIN.

Before using the ATM, pay very close attention to objects mounted on the ATM or located closely. A pinhole or off colour piece of plastic could give away where the camera is hidden. Also check the brochure racks for cameras.