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Each year we are alerted by our banks and financial experts as to how to protect ourselves from identity theft especially when we use our credit and debit cards at retail stores, on the Internet and by phone.

But consumers may be totally surprised how easily one can become a victim of identity theft and how often it occurs even if you still have the card physically in your possession.

There is a new kind of crime that is becoming more and more frequent called “skimming.” Criminals are now taking full advantage of technology and can steal your credit card information at a moments notice.

St Louis mortgage news reports have significantly increased on this subject of skimming especially due to situations at various Bank of America locations.

Criminals often use skimming tactics at retail establishments that would include gas stations, bars, restaurants and ATMs where credit and debit processing takes place.

Here’s what happens: A dishonest employee “skims” a customer’s credit card with a small, hand held electronic device that scans and stores the card data from the magnetic strip.

Once they have your private financial information, they can now go on their dream shopping spree or sell your information to criminals where counterfeit cards are made.

Criminals are also targeting ATMs now. By using cameras or watching you as you key in your 4 digit pin code, these ruthless white collar thieves can now suck your bank dry.

And it is only when the credit card or bank statement arrives in the mail is when the customer is alerted to the fact that someone has stolen their financial information and are now a victim of identity theft.

The next 10 tips are here to help protect you against such information theft:

1. Keep your personal information updated with your bank or financial institution. This is very important if an issue every occurs and you need to dispute any fraudulent charges.

2. In case your cards are ever lost or stolen, you absolute sure you have written down all customer service phone numbers found on the back of your cards and keep this list in a safe place.

3. If an ATM is in bad shape or run down, walk, no… run away! A sign of a dirty machine may signify that it is not working or may be a criminal clone wanting to steal your information.

4. If you are going to travel, let your card companies know the dates and destinations so that they can immediately decline transactions that are suspicious or at other locations.

5. When approaching an ATM, any sign that says you should ‘enter PIN number twice to complete transaction,’ is a warning to leave immediately.

6. Again, make absolute sure you sign up for any banking alerts offered.

7. If you notice that the front of an ATM machine looks damaged or loose, this may be a sign that someone has attached a skimming device.

8. Never do a transaction if suspicious or dangerous looking individuals are close by. Potential criminals may try to steal your cash or watch as you type your PIN number. If your card gets stuck in the ATM, call your bank and report the incident. If someone offers to help, just beware that it may be a scam artist wanting to get your financial information or perhaps harm you!

9. Make it a habit to cover the keypad with your other hand when keying in your PIN number. This will prevent someone or a camera from capturing your numbers.

10. Skimming can occur at any place accepting credit or debit cards. But more often than not, it occurs at retail locations such as a restaurant. It may be impossible to always do, but try to keep your card in sight when they do their processing. If they have to go to another counter or location of the store, follow them. And if you feel uncomfortable pay with cash or leave.

You have probably heard this before but always check your balances when your statement arrives.

For those who use their debit cards more often should also know that the laws protecting credit card holders do not apply to debit card purchases. Thus, you should start using your credit card for larger purchases or when buying online.

If you notice that your cards are missing, immediately call your bank within two days so that your loss amount is limited to just $50. If you procrastinate, you may end costing yourself and your financial loss may be greater than necessary.

Visit our website to learn more about the best St Louis finance loan. Stop by Floyd J. Tapia’s site where you can find out all about a St Louis refinancing mortgage and what it can do for you. We invite you to call St Louis mortgage brokers at 877-334-0210 or 314-334-0210.

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