Do u know what is this? This is an interesting electronic device, which can steal the data from a credit card from its magnetic stripe without your knowledge.
A card skimmer is a device which is designed to steal information from a card with a magnetic stripe, classically a credit card, when the card is used in a legitimate financial transaction. Once collected on the device, the skimmer can be used to make a clone of the card which can be used for illegal gaining purposes, or the collected information can be utilized for online and over the phone transactions where requirement of a physical credit card is not necessary, only the information on the card is enough. The frauds swipe it in their skimmer and steal the detail information.
This may be kept in the belt of a person in the form of a mobile phone cover, on the back side of a lighter, may be attached to a credit card terminal or ATM.
By the end of the day the frauds downloads these in their computer and use it as they want. There are many examples, which I will discuss with you later here.
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