Fraud Watch: Protecting Yourself From Credit & Debit Card Skimmers

As Montanans hit the road for summer trips, law enforcement leaders are reminding you to watch out for credit card skimmers. “There’s been about a 70 percent increase in payment card scams occurring around the United States,” said Bryan Lockerby, administrator of the Montana Department of Justice’s Division of Criminal Investigation. One of the most common tactics is the use of a skimmer, a small device attached to an ATM or credit card slot that collects customers’ information and transmits it to a criminal.

“They take that transaction information that’s on the strip of a debit or a credit card, try to get a PIN number and use that to cash in for criminal purposes,” Lockerby said. Lockerby said criminals usually place skimmers in places that aren’t consistently monitored. He said the most common is a gas pump, where at least 60 percent of those offenses occur. He said gas pumps are especially attractive targets, because they will not be required to upgrade to more secure chip card readers for several more years. “The criminals go to the low-hanging fruit,” he said.

Anyone can be a victim: Lockerby said his daughter had her information stolen several months ago - and then it happened to him. “I received a fraud alert via phone from my bank, saying someone tried to use your debit card in California,” he said. Lockerby said there will most likely be a skimmer on only one pump at a station, usually one farthest from the staff’s view, in a darker area or hidden from cameras. Gas station owners are taking steps to discourage skimmers.

Deb Monroe, owner of Monroe’s High Country Travel Plaza in Helena, said her employees check credit card slots several times a day, to make sure they aren’t loose and nothing has been attached. Monroe also said her station invested in new locks for the gas pumps. She said older gas pumps usually had standard locks, so a scammer could get a single key and open many pumps to install internal skimmers.

Some gas stations also place small adhesive seals over their pump panels. If that seal is broken, it could be a sign someone has tampered with the machine. If you see anything suspicious at the pump, Lockerby said the best thing to do is simply to let someone know. “All you have to do is notify a clerk and maybe go to a different pump, and you’ll be fine,” he said. Lockerby said credit cards have more layers of protection than debit cards. He also said, if you want to avoid any identity theft risk, you can always pay for your gas with cash.

People over here, on this side of the "pond", are worried about their jobs too. And of course, we can hardly turn on the news without noting the alarming number of home foreclosures. And, according to government statistics, the biggest reason that people lose their homes is because they lose their incomes. Well, the good news is that a layoff protection plan is here, in t he US, and Americans can find the same type of affordable protection that people in the UK can enjoy.

It basically follows the same unemployment rules as state unemployment benefits do, but it usually pays out a lot more money. 400 a week. For many of us, this is not enough to keep our mortgage current, pay off loans, keep bills current, and put food on the table! 2,000 a month. This cash is paid directly to the buyer of the plan, and it is not handed over to a lender. That way, the plan member can decide the best way to use the money to benefit their family during a period of unemployment. In my opinion, this type of plan is best for the consumer. The plan also contains other benefits like debt relief and legal services, and can be a valuable part of a working person's financial planning.

In order to be able to do business in some industries, you need to be bonded. This is more common in the construction field where your employees’ worksite is the client’s home. Here are some reasons that it’s a good idea to get a business bond. Being bonded gives everyone involved with the transaction a sense of protection. This includes your employees, you, and the client. If an accident or some other unforeseen incident were to occur, you have a backup plan in place. There are two types of bonds that protect your business, surety bonds and fidelity bonds.

A surety bond is a form of credit to pay out if something were to occur. If you get this type of bond, you’re required to pay back the amount for the claim. A fidelity bond is a form of insurance. This means that you would pay a monthly premium to your insurance company so that they would cover the cost of any claim.

Both types of bonds allow you to pay out a claim if one is filed. They offer your business the protection and peace of mind if an incident happens. You wouldn’t be liable for the full amount out of your own pocket. This can mean the difference between you continuing to stay in business or having to close up shop.

A surety bond will directly pay out to the person that filed the claim against you and your company. Fidelity bonds will pay you, and then you can pay the claim amount to the client. This may mean that the claimant is a subcontractor in some instances. Make sure to go with a company that will investigate the claim prior to making a payout.

This will protect you from clients and others filing frivolous lawsuits against your business. In many industries, clients are asked to sign a mediation agreement prior to your employees entering their home. This is another form of protection for your business. It gives you the opportunity to hear their grievance and resolve it prior to making a payment to them. A surety bond allows you to become bonded even if you have bad credit. This allows you to have some flexibility when it comes to safeguarding your business.

Another aspect of having a business bond is that it guards you against your employees stealing from your clients. After all, why should you be responsible for their crime, If you’re trying to run an honest establishment, this is definitely something that you don’t want as part of your reputation. Having a bond will protect both you and your customers in this regard.

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