theft, or Identity fraud, is a crime in which the personal information
you have embedded in your credit and debit cards is hijacked by someone
using a credit card reader. Assuming your stolen identity, the thief may
then make expensive purchases, take out loans, obtain a passport,
collect your pension or superannuation benefits, and many other illegal
activities. And you won’t even know it’s happened until it’s too late.
You could be left financially ruined, or charged for a crime you did not commit.
And if you think it will all be covered by insurance, think again.
While credit card
companies and banks are usually pretty quick to reverse charges in
stolen identity cases, you won’t be covered against non repayment of
loans taken out in your name. Plus for a day or so you’ll suffer the
inconvenience and stress of not having access to your funds.
Having your stolen
identity fully restored can take weeks, months and even years. It will
certainly take a lot of time and effort on your part. Victims of
identity theft say it is something they never want to go through again
and their credit status is never quite the same again.
WHAT IS SKIMMING?
is the means by which identity thieves glean your personal details from
credit and debit cards. No problem, you say, you never let your credit
cards out of your sight. You don’t have to. With the advent of new
‘touch and go’ cards, those with concealed skimming devices can ‘lift’
your details from as far away as 70cm; in other words, just by walking
past. And skimming is becoming easier and more frequent – there’s even
an app that can turn a smartphone into a credit card reader. However
with a ScanGuard sleeve protecting your cards, you have nothing to fear
from card skimming.
Have a look at the YouTube clip here to see how easily it’s done.