Skimming


Also found in: Dictionary, Thesaurus, Medical, Legal, Idioms, Encyclopedia, Wikipedia.
Related to Skimming: Price skimming

Skimming

1. The act of stealing a person's credit card information on an electronic device and transferring the information to a different card. It may occur during a normal business transaction. For example, if one uses a credit card to make a purchase, the person handling the card may surreptitiously swipe the card through another electronic device that copies the information contained on it. The skimmer then transfers the information to another card.

2. The act or practice of stealing a small amount of money from a company, especially over a long period of time, so that it adds up to a large amount. One example is a worker neglecting to ring up a sale and simply keeping the money. A more sophisticated example involves a banker stealing a few fractions of a cent each time a transaction occurs. Over time, this can add up to a great deal of money.
References in periodicals archive ?
Skimmers are physical devices that are installed over the actual ATM card slots that read the data of the magnetic strips.Incidents of skimming seem to have become more frequent and widespread since then taking place in Rawalpindi and Azad Jammu and Kashmir with a bank confirming in December 2017 that over Rs10 million had been stolen from 559 of its accounts.
On December 10, the FIA arrested four suspects in a similar ATM skimming fraud.
With the amendment, the mere possession of skimming devices and attempts to access online banking accounts, regardless of whether or not money was stolen from the account holder, will be potentially punishable with imprisonment of up to 12 years.
However, the precautionary measures suggested by the FIA high-ups in recent interviews and press conferences rely mostly on the findings of the investigations into the recent cases of skimming reported in the city.
The police also have recovered an ATM skimming device, Rs0.65million, identity card, passport and a cell phone from the suspect's possession, the police said, added that however, the three suspects had been managed to flee away in a suspected vehicle.
Incidents of skimming seem to have become more frequent and widespread since then - taking place in Rawalpindi and Azad Jammu and Kashmir - with a bank confirming in December 2017 that over Rs10 million had been stolen from 559 of its accounts.
It is pertinent to mention here that on January 10, police arrested two Chinese nationals for their alleged involvement in ATM skimming fraud.
KARACHI -- Police arrested another Chinese national in ATM skimming in Karachi's Bahadurabad area on Sunday.
SKIMMING devices can steal your money - and here is where police have investigated them on Teesside.
The latest ATM cards skimming incidents are a wake-up call for commercial banks in Pakistan to ensure their customer's data security against all possible threats.
MANY short films sink without trace but that would have been a particularly sorry fate for one set at the annual World Stone Skimming Championships.
STONE skimming is a pastime familiar to generations of seaside daytrippers - and for most, three or four bounces can be something of an achievement.