California has witnessed a significant spike in card skimming incidents, with fraudulent activities rising across the state. Skimming mechanisms placed atop card readers are the main culprits.
The FBI reported that skimming costs both financial institutions and consumers over $1 billion annually. In 2023, there was a staggering increase of 315,000 compromised cards due to skimming activities.
To protect against skimming, experts recommend tugging on card readers at gas pumps, inspecting them for damage, and checking tamper-proof inspection stickers.
With skimming activities affecting over 3,500 financial institutions in 2023, there's been a notable 90% rise in bank ATM compromises compared to the previous year.
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