Heading out on a vacation road trip? Watch out at the fuel pump for a threat to your debit or credit card: skimmers. Gas stations, among the last retailers to install fraud-reducing EMV-chip card readers, remain an attractive target this summer for card-skimming crews.
Skimmers can be hidden in and around gas pumps’ card readers, secretly recording the data stored in your credit or debit card’s magnetic stripe. Fraudsters use that data to make counterfeit cards, rack up pricey purchases at your expense, and potentially drain your bank account.
Here are five ways to feel more secure at the gas pump:
For that matter, take similar precautions at the ATM during your summer road trip; skimming crews still target cash machines too. And if you fear your debit card or credit card has been compromised, stolen or lost, contact your bank or credit card issuer right away. Get in touch within two business days of the event, if you can; that will limit your liability for any unauthorized charges to $50.
MORE: Steps to protect a compromised debit card
Installing EMV-chip card readers is a costly and complex upgrade for gas stations, industry experts say: Replacement of the entire fuel dispenser is required. An October 2017 EMV compliance deadline imposed by Mastercard and Visa on gas stations has been extended to October 2020.
But even EMV is no magic bullet .
“Without PIN use, EMV is less successful in reducing fraud,” Lenard says.
A PIN is an additional layer of security, and although your debit card requires it, you probably won’t punch in a PIN at the pump when using an EMV credit card.
Visa noted late last year that fraud at EMV-enabled merchants had been reduced by 43% — huge strides, but the crime is far from eradicated.
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