Defend Your Dollars

Navigating the Dangers of Skimming and Shimming

In an age where convenience is king, we often overlook the lurking threats that could compromise our financial security. Skimming and shimming are two such risks that every member of Rally Credit Union should be aware of. These techniques, employed by fraudsters, aim to steal your card information without your knowledge, leading to unauthorized transactions and potential financial loss. But fear not! With a little knowledge and vigilance, you can safeguard yourself against these threats.

Understanding Skimming and Shimming

Skimming involves the use of a device attached to legitimate card readers, such as ATMs or point-of-sale terminals. This device, known as a skimmer, captures the information stored on your card’s magnetic stripe when you swipe or insert it. Shimming, on the other hand, targets chip-enabled cards by inserting a thin, undetectable device into the card reader. This device intercepts the data transmitted between your card’s chip and the terminal, allowing fraudsters to clone your card.

Tips to Protect Yourself

1. Inspect Before You Transact: Before using any card reader, take a moment to inspect it for any signs of tampering. Look for loose parts, unusual attachments, or anything that seems out of place. If something looks suspicious, trust your instincts and avoid using the machine.
2. Cover Your Keypad: When entering your PIN, shield the keypad with your hand or body to prevent anyone from capturing it with hidden cameras or observation. This simple act can thwart attempts to steal your PIN, adding an extra layer of security to your transactions.
3. Embrace Tap-to-Pay: Many cards now come equipped with contactless payment technology, allowing you to make transactions by simply tapping your card on the reader. Similarly, mobile payment options like digital wallets offer a secure way to pay without exposing your card details. By opting for these contactless methods, you reduce the risk of falling victim to skimming or shimming attacks.
4. Regularly Monitor Your Accounts: Stay vigilant by keeping a close eye on your account activity. Review your statements regularly for any unauthorized transactions and report any suspicious activity to Rally Credit Union’s member service immediately.

At Rally Credit Union, the security and peace of mind of our members are paramount. By understanding the risks of skimming and shimming and taking proactive steps to protect yourself, you can minimize the likelihood of falling victim to financial fraud. Remember, a moment of caution can save you from a world of trouble. Stay informed, stay vigilant, and together, we can keep your finances safe and secure.

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