Where did my money go?

Christmas season is a perfect time for debit card fraud. I’m sure every single one of us knows someone who lost money due to debit card fraud. In Stratford last January, a lot of money was taken out of accounts unknown to the account holders! How? Where? The customers asked. The answer was that someone skimmed debit cards during the Christmas shopping season.

Skimming means all the account information from your debit card is attained. There are different ways of doing this. For example, the person doing the skimming replaces the entire pin pad that your card is swiped through and when you enter your PIN # into the key pad, they receive all the information they need! The second option for skimmers is to double swipe – they swipe your card through a separate machine to record the account info from the black strip and then they put a tiny camera in place to record your PIN # when you punch it. I know I'm guilty of not covering my PIN when I enter it in. I’m usually talking with the clerk or making sure my children are still beside me in the busy grocery store. So the skimmer has now recorded your PIN # and has access to your account. All they have to do is make a duplicate card and start spending on your account.

Some safe measures you can follow:

• Always keep your debit card in sight


• Shield your PIN when you are entering it


• NEVER share your PIN with anyone


• If your card is missing, cancel it right away


• Monitor your account to ensure the transactions coming off were completed by you. If anything is not yours, call your financial institution immediately to have the card cancelled


• Call the police to report the fraud

Good luck shopping and we just have to keep on eye on things to make sure everything is working fine!