Experts predict this will be a banner year for ID theft

Experts have made these predictions for 2011:

• Organized crime will continue to embrace and expand its ability to gather and sell personal information. Crime groups that do so are also attached to drugs, trafficking, counterfeiting, moving stolen goods and selling stolen information.

• Cyber crime and hacking will increase, despite attempts to increase security. Criminals will continue to make use of devices that capture credit or debit card information, which is called “skimming.”

Skimming techniques are increasing, with criminals now using cryptographic technology to protect the card information they steal, making detection more difficult and posing even more challenges for law enforcement.

In recent months, warnings about skimming devices have filled the Internet. The advice to consumers has been to look at the outward appearance of ATM machines and gas pumps, and to not use any device that shows any irregularity. However, that advice is already outdated, not that skimming devices are being installed inside machines, such as a self-service gas pump, and malicious software on point-of-sale terminals.

The common practice now has become the use of such software so that the criminal can access the information via the Internet remotely. Some criminals are even foregoing the use of skimming devices. If they can compromise the computer that is attached to the point-of-sale device, they can download the information from the business remotely.

Merchants need to make sure that their equipment and point-of-sale devices are up to date with all PCI compliance requirements. If you do not know how to go about this, contact our company today (877)217-0707. Alpine Payment Systems Compliance Assistance Program ensures that all of our customers have their customers card information protected and secure.

What does this mean for consumers? It means you must be vigilant and monitor your bank and credit card statements, and report any irregularities or fraudulent entries as soon as possible.

Assuming it won’t happen to you just isn’t going to cut it these days.