Question
Download Solution PDF"Skimming" in e-banking is a method of
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFSkimming Fraud
- Skimming is an illegal practice used by identity thieves to capture credit card information from a cardholder surreptitiously.
- Fraudsters often use a device called a skimmer that can be installed at gas pumps or ATM machines to collect card data.
- Some machines act like point-of-sale technology. An acquired card is swiped, and a touchpad allows the user to enter a security code.
- Card users are warned to keep their cards in their sight at all times and to cover the pin pad when inputting security codes at ATMs.
Therefore, "Skimming" in e-banking is a method of stealing credit card information.
Last updated on Jun 22, 2025
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