Criminals prey on ATMs, gas station pumps, merchant Point-of-Sale (POS) terminals and any other device that will provide them with debit card information. Once they have the data they need, the cards are duplicated and used to drain those customers’ accounts. Losses are often substantial, with organized card skimming gangs stealing hundreds of thousands of dollars through the use of compromised cards.
Uncovering compromised cards before they are used fraudulently is essential. Verafin helps detect terminals that may be a Common Point of Transaction (CPT) of fraudulent activity and help identify cards that have been skimmed and cards that are potentially at risk before they are used.