Credit Card And ATM 'Skimming' Is Big Business

07:26

May 19, 2014

The ATM pictured on the right below is shown with the card skimmer and video camera (upper left) attached. Click the image for a slightly larger look. (Courtesy Krebs on Security)

Brian Krebs writes a daily blog about cybersecurity called Krebs on Security. His most popular blogs so far are about the myriad of devices scammers use to steal credit card and ATM card data from banks, gas pumps and now even credit card scanners at the U.S. Post Office.

Krebs says ATM skimming is big business and cyber crooks can steal $50,000 to $60,000 each time.

"A typical bank robber may get two to three thousand dollars" Krebs told Here & Now's Jeremy Hobson. "Skimming is much more lucrative and there are no need for guns."

Krebs believes that skimming is becoming more commonplace as skimmers create more sophisticated devices. Banks are putting in more security hardware. But as Krebs says, "It's an arms race."

Guest

Brian Krebs, cybercrime journalist and author of Krebsonsecurity.com. He tweets @briankrebs.

This segment aired on May 19, 2014.