In the middle of the ongoing EMV transition came news of skimming scams that try to catch unwary consumers who swipe instead of dip, and new technology making POS devices more affordable.
Brian Krebs, author of the blog "Krebs on Security," revealed skimmers found at Walmart stores in Fredericksburg, Va., and Fort Wright, Ky., fit over existing EMV-enabled POS devices, and even 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 magnetic stripe when customers swipe their cards at self-checkout aisles.
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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.).
