There literally are skimming
This is an easy credit card scam to run when your card is used to make a purchase and it is scanned by the store employee.Credit card fraud over the internet has increased greatly with the popularity of online shopping.The merchant is held 100% responsible and risks losing the merchandise, and is responsible for paying the fees of the investigation. The credit card thieves will skim the information they need off of your cards and then begin to make purchase with your credit card number.The way the information skimming thieves will check the credit card for its validity is to make several purchases of low cost items on internet websites to find out if the cards are active.
One form credit card skimming is done directly through the card terminals when a skimmer bug is placed into the terminal and then retrieved with the credit card information on it.The skimmer is equipped to hold information on hundreds of credit cards and from this information, the crooks are able to produce counterfeit cards. The cardholder is a victim of this crime and is responsible for up to $50 of the total amount charged on his card, while the real victim in all of this is the merchant whose employee did the skimming. The persons who are operating this type of credit card scam know that a purchase of at least $2000 has to be made before any criminal investigation can start.
There literally are skimming rings working everywhere in the world because after your information is put into the skimmer it is downloaded into a computer and then can be emailed to any location in the world.That store employee may be swiping your card with a small machine known as a skimmer as well as using it to pay for your purchase and this skimmer takes your information from your card and stores it in this machines system.Some of the advances in the technology of the skimming machines in the last ten years has made it possible for these machines to be hand-held and invisible to the unsuspecting customer.The problem of credit card skimming now accounts for international losses of over one billion dollars a year.
A decade ago, this fraud was not as easy to accomplish as it is today, because skimmers were very large and had to be hidden under counters.With the introduction of the newer terminals this bugging scam is not the problem it can be with the older terminals which are easy to violate in this way.
The money used by the credit card companies to offset the cost of investigating charge-back claims by their customers comes from the investigation fees paid by consumers and businesses.This type Hosiery Machine Comapny Manufacturers
of credit card scam is common in Europe, Asia and Latin America and is starting to show up more in the United States.These skimmers are easy to buy; they can be purchased over the internet at around $300, but the machine needed to make counterfeit credit cards is a much larger investment - costing $5,000 to $10,000.