Important Notice: Debit Skimming Alert
Consumers in Atlantic Canada may be affected by debit card skimming scheme
We have become aware that some consumers in Atlantic Canada may be affected by illegal debit card skimming. In debit card-skimming, card information is stolen from the magnetic stripe, along with the personal access number (PIN). Criminals then replicate the cards and withdraw money in sprees at locations, usually where chip technology is not used.
If your card was used within a certain vicinity of the skimming location or at the actual location (the vicinity and location are not communicated to financial institutions), your card is cancelled in order to protect you from someone taking money out of your bank account.
Skimming is not specific to any one financial institution's debit cards: it is specific to where consumers use their debit card and can affect credit union members and customers of banks and other financial institutions.
Credit union debit cards have chip technology that helps enhance the security of transactions and chip technology has drastically reduced the incidence of skimming, but not eliminated it entirely.
Any member who feels they may have been affected by this illegal activity is asked to contact us directly at alerts@cua.com.
FAQs
- How does skimming work?
In debit card skimming, card information is stolen from the magnetic stripe, along with the personal access number (PIN). Criminals then replicate the cards and withdraw money in sprees at locations, usually where chip technology is not used.
Skimming is not specific to any one financial institution's debit cards: it is specific to where consumers use their debit card and can affect credit union members and customers of banks and other financial institutions. - How are CUA members protected from this?
Credit union debit cards have chip technology that helps enhance the security of transactions and chip technology has drastically reduced the incidence of skimming, but not eliminated it entirely.
To mitigate the potential to be victimized by skimming or other types of card fraud, consumers can protect themselves by regularly changing their personal identification number (PIN). Also, if a point-of-sale or ATM device appears to have been tampered with, the best advice is to avoid using it. - If my card has been canceled, does it mean someone has already stolen money from my account?
No. The vast majority of the cancelled cards are being cancelled as a precautionary measure to prevent any loss. There is the potential that some people are directly affected and money has been stolen from their account. It is important that you check your account to ensure there isn’t any unauthorized withdrawal. If you find anything, contact us immediately. - Are members out of pocket for any losses from this?
No. Credit union members who had funds illegally withdrawn from their accounts due to this fraudulent activity will be fully reimbursed for their losses.
