Skimming continues to be a prominent method of perpetrating card fraud in South Africa, and being aware of what to look out for is the best way to prevent it.
South Africans should be aware of the constant threat that physical card transactions pose, including card skimming to steal bank card information., victims of reported counterfeit credit card fraud lost R142 million in 2022, whereas losses from debit card fraud stood at R270 million.
Skimming devices can also obtain the cardholder’s PIN by placing a fake keypad over the ATM’s keypad or installing a camera to record people entering their PIN.The information can be used to make fake credit cards, sold online, or used to make fraudulent purchases online. One example of this is a Magecart attack, where attackers will use a fake or infected website to harvest information from people’s payment cards.
Card Skimming Headline Point-Of-Sale (POS) Device South African Banking Risk Centre (SABRIC) Security
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