Theft of Debit-Card Data From ATMs Soars. Any tips on how we can protect ourselves from this?

2015-05-20T04:33:24-04:00

Criminals are stealing card data from U.S. automated teller machines at the highest rate in two decades, preying on ATMs while merchants crack down on fraud at the checkout counter.

The incidents, in which thieves steal information from debit cards to make counterfeit plastic, are taking place at ATMs that are owned by banks as well as independently owned cash kiosks in shopping centers, convenience stores and restaurants, according to industry executives.

http://www.msn.com/en-us/news/crime/theft-of-debit-card-data-from-atms-soars/ar-BBjYIXH

Theft of Debit-Card Data From ATMs Soars

Criminals are stealing card data from U.S. automated teller machines at the highest rate in two decades, preying on ATMs while merchants crack down on fraud at the checkout counter.

Response by MAJ Robert (Bob) Petrarca made May 20 at 2015 5:41 AM

2015-05-20T05:41:31-04:00

Other than not using your debit card there's not much defense against these modern day techno-pirates.

You can check your on-line statements daily, which may give you the earliest possible warning of a fraudulent charge but its still after the fact.

USAA and some other large companies track spending trends and will sometimes call you directly if a large or out of trend purchase is made on a credit card but again its after the fact.

Response by Maj Private RallyPoint Member made May 20 at 2015 5:50 AM

2015-05-20T05:50:03-04:00

I think more banks are starting to offer chip cards for those customers that ask for them. Chip cards (like our new GTCs) are encrypted and cannot have the data skimmed like from a magnetic strip. Additionally, I've noticed most business in the US already have the new card scanners which include a chip reader in addition to the slot for reading the magnetic strip. Given that a good collection of banks offer chip cards here, they're more secure, and that the rest of the world has been on the chip system for awhile, I don't know why they're not more prevalent in the US. It's probably because people don't bother to request a chip card (guilty) or they don't know about it. Personally I think banks could be more proactive and stop issuing magnetic strip cards and switch to only issuing chip cards, but that's not their responsibility.

Response by TSgt Joshua Copeland made May 20 at 2015 7:22 AM

2015-05-20T07:22:27-04:00

This kind of hack is exceptionally easy to employ.

Response by CW5 Private RallyPoint Member made May 20 at 2015 8:11 AM

2015-05-20T08:11:16-04:00

Tips:

1) Use a bank that will protect you from fraud (USAA saved me twice)
2) Don't use rinky-dink ATMs - Use one from a bank branch location
3) use cash for small transactions (smokes, coffee, gum, etc) and for temporary events/tourist traps (St. Patricks Day Parade)
4) Be vigilant of your account

Response by SFC Dennis Leber made May 20 at 2015 9:09 AM

2015-05-20T09:09:19-04:00

Gunny,

good topic, can we ever stop the criminals? No, there are steps being taken that will make it harder. The adaption of EMV cards (cards with smart chips much like CAC cards) are making their way into the US. Will this stop it, again, No, but the EMV cards make it more difficult, and it puts liability back on retailers to protect you and your data.
If you have an EMV card, and the retailer does not have the EMV point of sale machines and there is a breach the liability now falls on them and not your bank.

This is just one step, and many more need to be made. Our banking institutions must comply with numerous federal regulations to protect our data, and our money but retailers not held to similar standards. This could be another area of improvement to protect us.

Response by SSgt Private RallyPoint Member made May 20 at 2015 1:47 PM

2015-05-20T13:47:09-04:00

Keep a watchful eye on your account and immediately report anything you didn't do. Most banks offer monitoring that will text you or send you an email anytime your card is used. If yours doesn't, and you are not willing to check your bank account every day or two, I would recommend changing banks.

Response by PO1 Tony Holland made Jul 17 at 2015 6:01 AM

2015-07-17T06:01:56-04:00

Most reponses above are right on. Stick with known bank ATM's and always cover the keypad with your other hand when inputting your PIN. I use USAA and am very satisfied -- I always alert them in advance of any lengthy travel plans.

Response by Maj John Bell made May 14 at 2016 9:43 PM

2016-05-14T21:43:28-04:00

Open a pass book savings account. Require the bank to deny all electronic transactions (debit and credit). Open a checking account with the same blocks. Write checks to pay your bills. Go to the bank and transfer enough cash to cover the checks + $5. Require your bank to give 24 hour notice of any over draft' Carry Cash to pay your day-to-day face-to-face transactions. Use pre-paid debit cards to make your online purchases. Never pre-pay more than $5 above your planned on-line purchases.

Sounds like a lot of work, right? Was hit 3 times by identity theft or credit card fraud prior to this practice. Clearing up identity theft and credit card theft debt is a lot of work. Nobody will lend me money, except my local bank, because they are intimately familiar with what I've been through and what I've done to protect myself. But I can borrow at their best possible rate, even with a horrible credit rating that someone else created for me.