Other Forms of Card Fraud
Other variants of fraud may use a “skimming” technique, where an electronic device is fitted over the ATM's card slot and which reads the information encoded into the magnetic strip on the back of the victim's card as it is inserted. This variant does not require the card to be retained; the transaction runs normally, and the data recorded from the original card is copied to another blank magnetic stripe card, which is then used to withdraw cash.
At their most sophisticated, scams can involve the construction and installation of fake fascias built to fit particular ATMs or other card reading devices. These false fronts can house any of the above devices to gather data from the user and allow the perpetrators to acquire or clone cards and their associated PINs. These fakes can often be indistinguishable from unmodified devices to the untrained eye.
Read more about this topic: Lebanese Loop
Famous quotes containing the words forms, card and/or fraud:
“Ring out a slowly dying cause,
And ancient forms of party strife;
Ring in the nobler modes of life,
With sweeter manners, purer laws.”
—Alfred Tennyson (1809–1892)
“Mothers are not the nameless, faceless stereotypes who appear once a year on a greeting card with their virtues set to prose, but women who have been dealt a hand for life and play each card one at a time the best way they know how. No mother is all good or all bad, all laughing or all serious, all loving or all angry. Ambivalence rushes through their veins.”
—Erma Bombeck (20th century)
“There exists in a great part of the Northern people a gloomy diffidence in the moral character of the government. On the broaching of this question, as general expression of despondency, of disbelief that any good will accrue from a remonstrance on an act of fraud and robbery, appeared in those men to whom we naturally turn for aid and counsel. Will the American government steal? Will it lie? Will it kill?—We ask triumphantly.”
—Ralph Waldo Emerson (1803–1882)