E-skimming happens when a hacker inserts malicious credential-stealing software into a retailer’s website.
E-skimming happens when a hacker inserts malicious credential-stealing software into a retailer’s website. While you are checking out with your credit card or debit card, the hacker is stealing your payment information from the shopping cart in real time. They may even be using your card or selling the information on the dark web before you are done with the transaction.
How to Protect Yourself
Here are some things you can do to protect yourself from e-skimming:
- Enable alerts on your cards: “Card Not Present” transaction alerts are a good idea anyway, and they are one of your best defenses against e-skimming. This alert, usually sent by text or email, comes from your card issuer and lets you know any time your card is used to make a number-only purchase. As soon as the transaction is processed, the alert is issued. You can contact your bank immediately and stop the payment from going through, as well as close that card and order a new one.
- Monitor your account: It is important that all consumers take a routine peek at their bank and card accounts to make sure there is nothing suspicious going on. Your card may have been used or sold by a hacker, and there can be a limited window of time for you to dispute any charges in order to avoid accepting responsibility for them.
- Use trusted websites and look for HTTPS: Hackers have a fun game of seeing who can earn the most credibility by taking down bigger and bigger targets. However, the more trusted and secure the retailer, the more likely they are to have strong security protocols in place. Avoid sites you are not familiar with, no matter how great the advertised deals are.
- Consider a low-limit card for online purchases: You might consider a low-limit credit card for use on the internet. It can help reduce the amount of damage a hacker can do if your card information is stolen online.
- Pre-plan your shopping: If you are doing a lot of online shopping, it is a good idea to plan what you will be buying and from which retailers. First, it will help you stick to your budget, but more importantly, you will not be lured into opening dozens of online accounts and spreading your spending around. Limiting where you shop can help reduce your risk of encountering an e-skimmer.
What to Do in Case of Credit Card Fraud
- Contact credit bureaus: Place a “fraud alert” on your credit reports by calling one of the three national credit bureaus. Fraud alerts can stop a thief from opening additional accounts in your name. With a fraud alert in place, the credit bureaus will contact you before any new account is opened or an existing account is changed. Note that one call to any of the three credit bureaus will be enough to place your fraud alert. The company you call is required to contact the other two. Within 24 hours, all three of the bureaus will be alerted.
- File a police report: You should file a report with your local police station. Keep a copy of the report for proof of the crime. It can help you deal with creditors and file Identity Theft Reports.
- File a complaint with the Federal Trade Commission (FTC): The FTC handles complaints from victims of identity theft, provides information to those victims, and refers complaints to major credit reporting and law enforcement agencies. The FTC can also refer your complaint to other government agencies and companies for further action, as well as investigate companies for violations of laws the agency enforces. Report identity theft to the FTC at IdentityTheft.gov.
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