How to spot credit card fraud and how to prevent it

We keep is simple- you can spot credit card fraud through phone calls asking private questions about you card information, emails requesting personal information, and ATM and other card reading equipment that is evidently been tampered with. You can prevent it by not using your card places that you are not familiar with and to NEVER hand your card to someone. Following these simple steps will help you to prevent something like this happening to you:

The Edmonton Journal reported on Friday, January 13, 2012:

Skimming operation stole $500,000 off cards

Investigators say chip technology used in a vast card-skimming operation in the city is the most sophisticated they have ever seen, with each machine capable of collecting millions of dollars.

Police confiscated 10 machines designed to collect up to 3,000 card numbers each.

A total of $500,000 was withdrawn from 900 accounts in Edmonton, but thousands of other account numbers collected have not yet been used.

This is one of the largest debit and credit card-skimming operations the economic crimes unit has ever seen.

Numerous banks were affected in this card-skimming operation. The group targeted businesses that use debit-and credit-card machines, and the information from every card run through an altered machine was captured.