How to Beat Card Skimmer Scams and Other Money Drains
When you think of technology security scams, you think of dangers to your PC more often than dangers to your pocketbook.
In this story, we address tools such as the free Amazon PriceWatch plug-in for Internet Explorer or Firefox, or the Price Protectr site that help you make sure you don't pay too much online. We also look at how to foil thieves who try to steal people's bank account infomation by modifying ATMs to record credit card data.
Why You Should Care: Online stores may take advantage of you.
Scenario: If it seems that 5 minutes after you searched for an item at an online shop, the price went up, that may not be a figment of your imagination. Prices at big online retailers like Amazon fluctuate almost hourly--based not only on supply and demand, but also on consumer interest level. If a company determines that you have a strong interest in a particular product, it might hike the price by a few bucks to see whether you're still willing to bite.
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Scenario: Caroline Knorr usually trusts ATMs, especially those at her credit union's Daly City, California, branch. Unfortunately, an unknown criminal had placed what's known as a card skimmer device on her ATM--a plastic housing stuck on top of the ATM's card slot. The skimmer's internal memory records the data from a card's magnetic strip, while another device monitors the ATM's keypad and records the PIN code. Using that information, a thief can manufacture a card and use it at another ATM immediately. This is exactly what happened to Ms. Knorr.
