Lebanese Loop - Other Forms of Card Fraud

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:

    When we speak the word “life,” it must be understood we are not referring to life as we know it from its surface of fact, but to that fragile, fluctuating center which forms never reach.
    Antonin Artaud (1896–1948)

    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)

    He saw, he wish’d, and to the prize aspir’d.
    Resolv’d to win, he meditates the way,
    By force to ravish, or by fraud betray;
    For when success a lover’s toil attends,
    Few ask, if fraud or force attain’d his ends.
    Alexander Pope (1688–1744)