ICFE eNEWS #16-20 - July 6th 2016
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Consumers and Businesses Take Action Against Credit Card Skimmers

By Yan Ross, Director of Special Projects, ICFE

A broad array of publications picked up the recent KrebsOnSecurity report about credit card skimmers installed in self-checkout lanes at several Walmart locations. It appears that nationally hundreds of thousands of retailers use the potentially affected Ingenico credit card POS [point-of-sale] terminals, posing a threat to both businesses and consumers.

Not only do the skimmers compromise the security of the consumer's credit card, permitting the thieves to clone the cards and use them for unauthorized purchases, but the businesses using the point-of-sale terminals may be cheated out of the price of the sale or find themselves liable for damages.

Although it has not been widely distributed, or even heavily promoted in the media, Ingenico has issued a security bulletin on how to identify a skimmer commonly used on self-checkout lanes powered by Ingenico iSC250 card terminals. The following is a summary of the advice from Ingenico on how to spot the skimmers.

There is an excellent opportunity for consumers and businesses (and their employees) to work together to foil the criminals who install these skimming devices.

First, they may take note of the four main indicators of the presence of the skimmers.

Next, once removed, the skimmers and the substantial investment they represent are lost to the thieves.

Finally, the active participation and cooperative action strengthens the relationship between the business and the customer. It's a lot more pleasant to announce the identification and removal of a skimmer than to have to notify customers of a data breach!

More information from KrebsOnSecurity is posted online.

The ICFE's Certified Identity Theft Risk Management Specialist® XV CITRMS® course is now available both in printed format and online.

The Textbook and Desk Reference edition of the course book is also available online. Bulk pricing and discounts for veterans and students available. Inquire at yan.ross@icfe.info

Yan Ross is ICFE's Director of Special Projects, and the author of the Certified Identity Theft Risk Management Specialist® XV CITRMS® course. As an accredited educator for over 20 years, he has addressed Identity Theft Risk Assessment and management for consumers, organizations holding personally identifiable information, and professionals who work with individuals and organizations who are at risk of falling victim to identity thieves.

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Sent by:

Paul S. Richard
President - Executive Director
Institute of Consumer Financial Education (ICFE)

CFE - Institute of Consumer Financial Education - ICFE.info - 619.239.1401