In the midst of the ongoing EMV transition comes news ofskimming scams trying to catch unwary consumers, who swipeinstead of dip, and new technology making POS devices moreaffordable.
Brian Krebs, author of the blog “Krebs on Security,” revealedthat skimmers found at Walmart stores in Fredericksburg, Va., andFort Wright, Ky., fit over existing EMV-enabled POS devices, andeven include a slot for chip cards. The overlays sell for $200 to$300 on the dark web.
The skimmer has a PIN pad overlay to capture the consumer's PIN,and an instrument for recording data stored on the card's magneticstripe when customers swipe their cards at self-checkoutaisles.
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Roy Urrico
Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).
