Watch: How ATM skimmers are used to steal your money

Security site KrebsOnSecurity has published two “promotional sales videos” showing how ATM skimmers are installed.

The videos, posted below, are from groups selling ATM skimmers, with Krebs detailing how the devices are used to commit fraud.

When ATM skimming devices first came to prominence, they were units which criminals placed over the top of a cash machine’s card slot.

The latest videos show that new skimming devices are designed to be inserted into a card slot and cannot be detected by a visual inspection.

As shown in the videos, once the skimming device is installed, a bank card can be placed in the slot and then removed without any sign of outside interference.

“In a typical setup, insert skimmers capture payment card data from the magnetic stripe on the backs of cards inserted into a hacked ATM, while a pinhole spy camera hidden above or beside the PIN pad records time-stamped video of cardholders entering their PINs,” stated Krebs.

“The data allows thieves to fabricate new cards and use PINs to withdraw cash from victim accounts.”

Cover the keypad

The report stated that of the over three dozen ATM skimming systems covered by Krebs, the vast majority used hidden cameras to record a victim’s PIN.

“Covering the PIN pad with your hand blocks any hidden camera from capturing your PIN – shockingly, few people bother to take this simple and effective step.”

The reason ATM skimmers are successful is their use of stealth, with victims never suspecting the ATM they are using has been compromised.

Fortunately for those who draw cash, Krebs stated that the use of skimmers is still relatively limited.

“The truth is, most of us probably have a better chance of getting physically mugged after withdrawing cash than encountering a skimmer in real life.”

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