A silent but growing threat …
I am sure this video is aiming to educate its viewers on how they can protect themselves against card skimming fraud, which is commendable. The video claims skimming fraud costs Financial Institutions and Consumers around a $1Billion per year, which compounded since the early days of Chip Cards – 20-odd years – is a substantial amount of cash!
Skimming Fraud doesn’t work on properly implemented Chip Cards!
It looks like the skims discussed in this video are mainly limited to the USA, because it’s unlikely they would work anywhere else.
Click below for a PaymentMonkey breakdown of this video. You might be surprised.
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