The European ATM Security Team (EAST) has provided details in its latest European fraud update on how mini-skimmers — smaller, leaner devices that fit inside of card readers — are being used on ATMs across Europe.
Unlike traditional skimmers which cover an ATM’s card reader, mini-skimmers are hidden with the reader, where they can escape detection. From there, the skimmers perform much the same as their chunkier brethren, stealing information from the magnetic stripes on user cards, which is then transferred to new cards.
EAST found that the current schemers have coupled the skimmers with tiny cameras that read the PINs of customers using compromised ATMs.
Mini-skimmers are just another variation of a popular fraud scheme that continues to yield financial gains for miscreants.