US Secret Service Investigates Card Skimming Fraud

The United States Secret Service (USSS) exposed multiple instances of card skimming fraud as part of an outreach program in Florida, preventing over a million dollars in potential losses. In skimming hacks, devices are illegally installed inside or on ATMs, fuel pumps, or point-of-sale (POS) terminals which capture data from inserted cards. Devices can also record PIN entries made by cardholders. The stolen data is then used to create fake payment cards that enable fraudsters to withdraw money from the victim’s accounts and make unauthorized purchases. On June 20, the Secret Service together with multiple state and local law enforcement partners from Florida “visited more than 472 businesses to inspect for, and remove, illegal skimming devices from ATMs, gas pumps, and point-of-sale terminals. In total, 13 skimming devices were recovered during the operation preventing an estimated potential loss of $1.3 million,” said a June 21 USSS press release....