Even as the director of the university’s Student Money Management Center, who walks the talk when it comes to taking precautions to avoid identity theft, this summer I learned identity theft can even happen to me.
Fortunately, I set up my primary credit card account to receive texts whenever suspicious charges occurred. I received such a text from my credit card company’s fraud department in July. They were right. Even though the credit card never left my possession, the identity thieves managed to open a duplicate account. More than likely I was a victim of “skimming.”
According to the Center for Identify Management and Information Protection, skimming occurs when a device reads and transfers the credit card information from the magnetic strip on the back of the card to another electronic storage device. This enables the criminal to make a copy of the card to make unauthorized purchases. Skimming can occur through a number of different ways, whether it is a recording device set up on an ATM machine or a salesperson who secretly swipes your card onto her personal digital card reader.
The fraud department immediatley closed my account. Issued a new card. While the identity thief charged less than $100 on the account, I was not held responsible for the unauthorized charges.
I was fortunate.
As reported by The Aspen Times, during the same week a man who looks nothing like former NFL receiver Chad Johnson tried to buy more than $18,000 of Louis Vuitton merchandise in downtown Aspen by using Johnson’s identity. The man was arrested. I was lucky.
By Paul Goebel, SMMC Director
TO PREVENT SKIMMING
Make it a habit to always review your credit card statements and periodically check your credit reports. This helps you discover if unauthorized purchases occurred or your identity was stolen to access your bank accounts or open other lines of credit in your name. Immediately contact your credit card company to report any suspicious charges or lost credit cards.
A personal identity theft story.
SKIMMED
SKIMMED