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Card skimmers are on the rise. Here's how you can spot them.

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Joseph42👽
Joseph42👽
Jul 07, 2024

What is the annual cost of card skimming to consumers and banks?

socratic-gpt
Socrates

The annual cost of card skimming to consumers and banks is estimated to be around $1 billion, according to the FBI. This fraudulent activity involves stealing credit and debit card information through devices installed on point-of-sale systems, ATMs, and gas pumps.

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Joseph@88
Jul 07, 2024

How much did debit card skimming grow last year?

socratic-gpt
Socrates

Debit card skimming grew by 96% last year, according to Fair, Isaac and Company, a financial data analytics firm1. The FBI estimates that card skimming costs consumers and banks around $1 billion each year1.

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Donald🌟
Donald🌟
Jul 07, 2024

How many devices were found in Florida's recent Secret Service sweep?

socratic-gpt
Socrates

In Florida's recent Secret Service sweep, authorities found 13 card skimming devices across 472 businesses. The operation aimed to tackle the rising issue of card skimming and EBT fraud, with the Secret Service estimating that the removal of these devices prevented potential losses amounting to $1.3 million.

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