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ATM breaches more likely at stores than banks
NEW YORK (CNNMoney.com) -- When hackers infiltrated Citibank ATMs at 7-Eleven stores, theyrevived the fear of everyone looking to get out a few bucks for a Slurpee - is using this machine safe?
Experts say the answer is that an ATM's safety depends on where it is. If it's at a bank, an ATM issomewhat safer than it is in a public place, such as a ballpark, a train station or a convenience store.
"You should never use ATM machines at convenience stores if you can help it because those aremuch more susceptible to tampering," added Avivah Litan, a security analyst with the Gartnerresearch firm.
While consumers can't do much when hackers break into back-end computers that approve cashwithdrawals in order to steal PIN codes - such as happened during last year's Citi ATM breach - theodds are slim that it will happen to you.
"It is possible to install malicious software on a banking server to capture an encrypted pin as itpasses through, but it is extremely rare," according to Margot Mohsberg, a spokeswoman for theAmerican Bankers Association.
There are other methods of getting scammed at the ATM, however, that are both popular andpreventable.
Most often, thieves use a method called skimming, which means they insert a device into the cardslot on an ATM that steals your data right off your card's magnetic strip.
When it comes to skimming, non-bank ATMs are far more susceptible, putting you at greater risk.There's less of a chance of skimming at your bank's local branch, because the bank is videotapingand maintaining that ATM, than at the ones in a convenience store that are maintained by a thirdparty, said Ellen Cannon, managing editor at bankrate.com.
"There are thefts constantly," said Cannon.
To further decrease your odds of getting victimized, Cannon also suggests changing your PINnumber regularly and using different PINs for different accounts.
Also, when shopping, opt for credit over debit. Chances are your credit card has 100% fraud liability,whereas your debit card may not.
"Basically, avoid using your PIN as much as possible," Litan recommends. Despite industrystandards that call for protecting PINs with strong encryption, that doesn't always happen, so to stayon the safe side, keep transactions that require you to enter your PIN to a minimum.
And when it comes to online activity, never use your PIN under any circumstances. "There's noonline use of PINs," Litan said, and any prompt to do so is just a scam.
Ultimately, the best thing you can do is check your account frequently and report any suspicious
activity immediately.
Beyond that, there's really not much else consumers can do, according to Thomas Fox, communityoutreach director of Cambridge Credit Corp., a nonprofit credit counseling agency based inAgawam, Mass. "It falls to the bank to employ new ways to deter hackers."
But if you are a victim of theft, keep in mind that while it is a hassle, it is not necessarily a hardship.
"The bottom line is that consumers are not responsible for any fraudulent activity on their account,"Mohsberg said.Â