Skimming—once defined as an internal business fraud of insiders taking money off the top of a company’s cash flow. E-skimming - the growing theft of personal digital information to steal funds and benefits from individuals. A May 22, 2024 New York Times report focused on how food stamp holders are victimized by crime rings when their benefit cards are hijacked through e-skimming.

Episode 170 explores how thieves collect card and PIN numbers to steal what the FBI estimates to be $1 billion a year. Learn steps we can take to protect our benefits and funds and what organizations can do to combat this growing threat to personal finance.  For further commentary, see the FBI’s guidance at https://www.fbi.gov/how-we-can-help-you/scams-and-safety/common-scams-and-crimes/skimming 

Time stamps:

05:44 — Dangers of ATM skimmers

07:51 — Dangers of fuel pump skimmers

09:29 — 16 tips for keeping your debit card information secure