Debit and ATM card identity theft

Watch out folks! Your credit cards aren't the only things you'll have to protect from identity thieves. Now, you'll have to make sure your ATM and debit cards are kept safe too, because Debit and ATM card identity theft is on the rise....and, going by recent statistics, it shows no sign of stopping.

And, the single biggest risk often associated with debit or ATM cards, is identity theft due to the stealing of 'Personal Identification Numbers,' otherwise known as PINs. And, in order to gain access to your bank accounts, identity thieves employ a number of methods to get their hands on your PIN.

One of the most common ways an identity thief obtains your PIN, is by discreetly observing you use your debit or ATM card. Sometimes, they may also overhear you giving out your private details to an official at the bank. Either way, you risk exposing your PIN when standing in a crowded place. Think about it - it's pretty difficult trying to protect your PIN from prying eyes, when you've got to enter you PIN by a cash register, or when you've got many people surrounding the ATM you're using.

Another way a Debit and ATM card identity theft can occur, is when you jot down your PIN and keep it together with your Debit and ATM cards. You see, it's never a good idea to have your PIN and your cards in the same place. The reason being, if a thief steals your wallet or purse, he'll be able to use both cards. And, we all know that a Debit or ATM card is of no use, unless the thief's got access to the PIN as well. But....if you keep your PIN together with the cards, the thief could use your accounts with no problem whatsoever, once they steal your wallet/purse.

The third way an identity thief gains access to your PIN is pretty technical in nature. Law enforcement agencies often refer to this type of Debit and ATM card identity theft, as 'skimming.' Here's the scenario - identity thieves use either a keyboard logging device or a magnetic strip card reader, and hook it up to an ATM machine. These devices are designed to capture your Debit or ATM card. And since they're usually very advanced, they look similar to a regular card swiping gadget, and will fool most folks.

So....victims unsuspectingly swipe their Debit or ATM cards in these devices, under the assumption that they're using the actual device. Once the identity thieves obtain your personal details, they won't require your Debit or ATM card. They'll simply make a 'brand new' card that'll look very similar to *your* card.

Remember, as long as you safeguard your PIN, you should be able to protect your Debit and ATM card too. However, if you realize you've fallen victim to a Debit and ATM card identity theft attack, you'll need to get in touch with your bank immediately. Your bank will then issue you a new card in place of the one you've lost. Thereafter, you can go ahead and select a new PIN!