This weekend is one of absolute relaxation. I am not doing anything. This is not entirely by choice, however, as my credit card was defrauded by Romanians and I had to cancel it, thereby leaving me with no cash and a chequebook that is only semi-useful to me as less and less places these days are accepting cheque. So, thank you Romanians! Thank you!
Apparently the likely cause of this fraud isn't the Internet, but the machines at the gas station which read cards. Luc was telling me that he saw a news report about it. They read all the information from the magnetic strip, and then fabricate a bunch of cards with this information. This is a practice known as
Card Skimming. They then try to use the cards (usually failing due to not knowing the PIN) and either causing the owner to lose a lot of money, or to have their card cancelled and to have to wait a week (or so, since it's Easter and banks aren't open) for another card to arrive.
I'm hoping to hear from my bank sometime this week. I'll have to go pick up the card in person, but it's certainly been a pain with no cash. When the bank called me to inform me of the fraud (for which
they get points) I had 20€ on me. I was told I'd have until the following morning to get some cash before my card was cancelled. I tried to take out the cash, and the machine ate it. So I've been living on 20€ and Ticket Restaurant all week. Not the easiest of endeavours, but on the plus side, it saves my bank account somewhat.
This entire episode has got me thinking, though. With such a focus on the Internet and the fraud that occurs therein on a daily basis, are banks shifting attention away from more, dare I say, traditional methods of card theft? The most common form of defence against skimming is the EMV card's chip device which supposedly makes it impossible to skim. French banks have been using this chips for over a decade, and since they started issuing these "smart" cards, ATM and credit card fraud has dropped approximately 90%.
[Source] However it is apparently still possible get the needed information to fabricate cards.</p>
The Wikipedia entry on Card Skimming says there is a EMV chip reader on the market which makes a clone of cards. There is also the fact that not every country utilises EMV, and many still rely on the data included in the magnetic strip on the backs of cards - thereby making credit card fraud unlikely to become a thing of the past any time soon.