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Skimming of credit cards has been an issue worldwide causing the huge loss of more than a billion dollars yearly. This kind of scam on credit cards is known to countries like Europe, Latin America, and Asia and is now spreading in the U.S.

Skimming can happen easily as it occurs when you make a purchase and give credit card to personnel on a particular store. The personnel would not merely swipe the credit card for the purchase made but will also swipe in on a machine which is learned as the skimmer. This equipment will hold the credit card information on its system. This device is able to grasp on hundreds on credit card information, which will make it convenient for crooks to create and generate counterfeit cards.

There are various skimming groups world wide that is dedicated in gathering the credit card information and store on the skimmer, and the information is ready for download and will eventually be transmitted on emails to a lot of prospects all over the world.

Before, this propaganda was not as attainable at it is now, because of the reason that previous skimmer are too huge that they can’t be concealed beneath the counters. But due to the advance technology over a decade, the scammers were able to provide a small version of the skimmer which is very handy and can be hidden underneath the counter when the unaware customer makes a purchase. Skimmers are available online and can be bought for the cost of approximately $300. The equipment that is capable of counterfeiting credit cards cost much higher having an amount of $5,000 to $10,000.

Another method of performing skimming is to gather the credit card information straight from the terminals of credit cards. The skimmer bug is installed on the terminals and eventually will return the credit card information. The previous type of terminals are the ones who are incapable of dealing with this bugs but the latest credit card terminals are improved to fix these issue.

Once the crooks are able to gather enough credit card information, they will begin to use these to shop at their own benefit and will leave you having unwanted debts. They will avail almost entire merchandise that they can think of until your credit card limit will reach zero and you will be surprise how the purchase has been done. Due to the popularity of online purchasing, the numbers of online card fraud arise as well.