In Jamaica, unscrupulous persons are getting more creative in finding ways to rob unsuspecting persons of their hard-earned money. Debit card fraud has reached unprecedented levels in our country.

I received an article recently online that explains how these scammers work.
It’s vital to be aware of how you can protect yourself against card fraud.
Thanks to Stuart Lieberman for sharing this information! 

Debit Card Fraud Increasingly Common

A New Horizon Credit Counseling Reports: Scammers Target Consumers in Many Ways

Fort Lauderdale, Fla. – Consumers are increasingly using debit cards to make purchases, and criminals have taken notice. Credit card scammers have entered the realm of the debit card, and incidences of fraud are becoming more common place. A New Horizon Credit Counseling, a nonprofit credit counseling firm, has been advising its clients on ways to avoid becoming ensnared.

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Steven Stark, Chief Operating Officer of A New Horizon, comments that “The most notable variation of this fraud that we’ve seen has been what’s known as skimming.” Skimming, a form of ATM fraud, allows a criminal to steal a consumer’s card number and PIN code – everything needed to effectively empty the victim’s bank account.

The criminal accomplishes this virtual heist by attaching a small front piece to the ATM’s card reader, which electronically records the card number of any unsuspecting customer. The PIN code is stolen via a small, hidden camera placed by the scammer.

With nearly 2 million ATM machines in operation worldwide, criminals have a wide array of potential targets. The losses due to debit card fraud are expected to continue rising as the crimes, and their perpetrators, become more sophisticated. According to the Nilson Report, losses due to fraud involving credit and debit cards rose 7 percent between 2008 and 2009. That number is expected to total $10 billion by 2015.

According to Stark, there are steps consumers can take to prevent debit card fraud. “All consumers should integrate fraud deterrence practices into their banking habits,” says Stark. He recommends using only ATMs physically located inside banks, where it is much more difficult for a criminal to install the skimming hardware.

Additionally, consumers should cover the keypad with their other hand when entering their PIN, to prevent any prying eyes from recording the code. Experts also stress that consumers should check their statements and balances often and thoroughly.

Here are some other tips to follow:

* Check your bank statements immediately. Make sure all payments are yours.
* Periodically check your account balance and transactions, by utilizing online banking, by telephone, or by printing interim statements at the ATM.
* Contact your bank immediately if your card is lost, stolen or subject to fraudulent use.
* Keep a record of card numbers, PINs, expiration dates and 1-800 numbers for banks so you can contact the issuing bank easily in cases of theft.
* Memorize your PIN number. Do not use your birth date, address, phone number or social security number. Never store your PIN with your card, and do not make it available to others.
* Keep your receipts. You’ll need them to check your statement. If they have your account number on them, tear up or shred receipts before throwing them away.
* Mark through any blank spaces on debit slips, including the tip line at restaurants, so the total amount cannot be changed.
* Know your limits. Many issuers limit daily purchases and withdrawals for your protection.
* Do not use an ATM if it looks suspicious, it could be a skimming device.
* Be wary of those trying to help you, especially when an ATM “eats” your card, they may be trying to steal your card number and PIN.
* Do not give your PIN number to anyone over the phone, often thieves steal the cards and then call the victim for their PIN, sometimes claiming to be law enforcement or the issuing bank.

A New Horizon Credit Counseling has free educational material available for consumers wishing to learn more about debit card fraud and how to combat it. Those interested in obtaining this material should contact A New Horizon.

A New Horizon Credit Counseling Services is a nonprofit debt consolidation organization that has been helping consumers since 1978. For more information about their programs, contact 1-800-556-1548. They can also be found on the web at http://www.anewhorizon.org, or reached via email at slieberman@anewhorizon.org