The Golden 1 Hit By Skimmers

SACRAMENTO, Calif. – The $6 billion The Golden 1 Credit Union reported that it had to cancel 1,300 debit card accounts and reissue cards after the cards were compromised in an international skimming ring, according to the Sacramento Bee. Skimming plots are those where thieves either alter an ATM or collude with a willing merchant to alter a swipe device to collect card data and personal identification numbers. Once the data is stolen, the thieves then use it to make counterfeit cards, often overseas, to steal from account holders. The problem has generally been seen more in Europe than in the U.S. but high-profile cases recently in the Carolinas and now in Sacramento indicate the thieves have arrived in the U.S. The paper also reported that Bank of America and Wells Fargo had cards compromised. The FBI is investigating and the paper reported that a local unidentified merchant has been implicated. Neither the credit union nor either bank would comment, pending the outcome of the investigation.