Next time you're in need of some cash, think twice before heading to the ATM. Withdrawing money now is more dangerous that it has been in two decades, says the Wall Street Journal. Debit card breaches at bank ATMs are up 174% this year thus far compared to last, according to FICO. And they were also up 317% at other card-swiping places like gas stations.
The source of the problem? Data hacks: the electronic breaches that steal from both individual people and big corporations like Target and Sony. Criminals use "skimming attacks" — tampering with ATM machines to obtain data — to learn your debit card information. Then, they can make online purchases, create counterfeit cards, or even empty your bank account. One consulting firm predicts thieves will successfully steal from ATMs a whopping 1.5 million times in 2015.
Banks and credit card companies like MasterCard and Visa have been upping their security to prevent the losses, including introducing new technology like "chip-embedded cards." Want to protect your money now? Experts recommend covering the keypad when entering your PIN and avoiding nonbank ATMs all together to keep criminals away from your hard-earned cash.
[via TIME
