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Moneris Protecting your POS

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Skimming is the transfer of electronic data from one magnetic stripe to another for fraudulent purposes. POS devices are stolen, tampered and returned to merchant locations with the intent to skim or capture credit and/or debit card data which is transferred to counterfeit cards. A decoy is a device that resembles the merchant's device. A decoy may be used to replace a stolen device in attempt to provide the merchant with a false sense of security and often does not show the correct serial number. Once the tamper is complete, the fraudster returns to install the tampered device and removes the decoy. The magnetic stripe card data is transferred to a counterfeit card which is used to make unauthorized purchases or to withdraw funds from cardholder bank accounts. What is skimming? Why are Point-Of-Sale (POS) devices being stolen? What is a decoy? What do the fraudsters do with card data? 1 P R O T E C T I N G T H E P O S

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